STAG Industrial (NYSE:STAG - Free Report) had its price objective reduced by Wells Fargo & Company from $41.00 to $38.00 in a report published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust's stock.
Several other research analysts have also recently weighed in on the stock. Barclays dropped their price target on shares of STAG Industrial from $42.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Wedbush raised their price objective on shares of STAG Industrial from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Finally, Evercore ISI raised their price objective on shares of STAG Industrial from $43.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, STAG Industrial has an average rating of "Hold" and an average target price of $41.13.
Check Out Our Latest Analysis on STAG
STAG Industrial Stock Performance
Shares of STAG Industrial stock traded down $0.06 on Monday, hitting $36.81. 804,177 shares of the company's stock were exchanged, compared to its average volume of 1,067,249. The company has a 50-day simple moving average of $38.77 and a 200-day simple moving average of $37.47. The stock has a market capitalization of $6.71 billion, a PE ratio of 37.18 and a beta of 1.09. STAG Industrial has a 1 year low of $33.99 and a 1 year high of $41.63. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.60 and a current ratio of 1.42.
STAG Industrial Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.1233 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.02%. STAG Industrial's dividend payout ratio is presently 149.49%.
Institutional Investors Weigh In On STAG Industrial
Large investors have recently added to or reduced their stakes in the stock. Ceredex Value Advisors LLC purchased a new stake in shares of STAG Industrial in the 2nd quarter worth approximately $13,188,000. Bessemer Group Inc. boosted its stake in shares of STAG Industrial by 69.3% during the first quarter. Bessemer Group Inc. now owns 785,916 shares of the real estate investment trust's stock valued at $30,211,000 after purchasing an additional 321,785 shares in the last quarter. F M Investments LLC bought a new position in shares of STAG Industrial during the second quarter valued at approximately $6,534,000. Vanguard Group Inc. boosted its stake in shares of STAG Industrial by 0.7% during the first quarter. Vanguard Group Inc. now owns 26,237,263 shares of the real estate investment trust's stock valued at $1,008,560,000 after purchasing an additional 176,332 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of STAG Industrial by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,865,673 shares of the real estate investment trust's stock valued at $103,333,000 after purchasing an additional 167,532 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.
About STAG Industrial
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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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