Landscape Capital Management L.L.C. cut its stake in STAG Industrial, Inc. (NYSE:STAG - Free Report) by 70.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,099 shares of the real estate investment trust's stock after selling 14,862 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in STAG Industrial were worth $238,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Centerpoint Advisors LLC acquired a new stake in shares of STAG Industrial during the 2nd quarter worth about $25,000. GAMMA Investing LLC increased its position in shares of STAG Industrial by 56.1% during the 2nd quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 326 shares during the last quarter. UMB Bank n.a. increased its position in shares of STAG Industrial by 54.1% during the 3rd quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 306 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of STAG Industrial during the 2nd quarter worth about $38,000. Finally, Blue Trust Inc. increased its position in shares of STAG Industrial by 1,728.4% during the 2nd quarter. Blue Trust Inc. now owns 1,353 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 1,279 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
STAG has been the subject of several research reports. Wedbush lifted their target price on STAG Industrial from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Evercore ISI lifted their target price on STAG Industrial from $43.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, August 28th. Barclays dropped their target price on STAG Industrial from $42.00 to $40.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. Finally, Wells Fargo & Company dropped their target price on STAG Industrial from $41.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $41.13.
Check Out Our Latest Research Report on STAG
STAG Industrial Stock Down 0.4 %
Shares of STAG traded down $0.15 during midday trading on Tuesday, hitting $37.01. The company had a trading volume of 1,258,748 shares, compared to its average volume of 1,075,092. The company's 50-day simple moving average is $37.75 and its 200-day simple moving average is $37.68. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market capitalization of $6.74 billion, a P/E ratio of 37.38 and a beta of 1.09. STAG Industrial, Inc. has a 1 year low of $34.09 and a 1 year high of $41.63.
STAG Industrial Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.1233 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Tuesday, December 31st. STAG Industrial's payout ratio is presently 149.49%.
STAG Industrial Profile
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Free Report)
We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States. Our platform is designed to (i) identify properties for acquisition that offer relative value across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants through the principled application of our proprietary risk assessment model, (ii) provide growth through sophisticated industrial operation and an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.
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