LDR Capital Management LLC lessened its stake in STAG Industrial, Inc. (NYSE:STAG - Free Report) by 38.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,758 shares of the real estate investment trust's stock after selling 26,806 shares during the quarter. STAG Industrial accounts for about 1.9% of LDR Capital Management LLC's portfolio, making the stock its 26th largest holding. LDR Capital Management LLC's holdings in STAG Industrial were worth $1,710,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of STAG. Foundations Investment Advisors LLC acquired a new position in shares of STAG Industrial in the 3rd quarter valued at $385,000. Blue Trust Inc. raised its position in shares of STAG Industrial by 133.5% in the third quarter. Blue Trust Inc. now owns 3,159 shares of the real estate investment trust's stock worth $114,000 after acquiring an additional 1,806 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of STAG Industrial by 4.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,606 shares of the real estate investment trust's stock worth $1,783,000 after acquiring an additional 1,767 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of STAG Industrial during the 3rd quarter valued at about $403,000. Finally, Creative Planning increased its stake in shares of STAG Industrial by 6.2% in the 3rd quarter. Creative Planning now owns 19,507 shares of the real estate investment trust's stock valued at $763,000 after purchasing an additional 1,142 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.
Wall Street Analyst Weigh In
STAG has been the topic of several research analyst reports. Evercore ISI raised their price objective on STAG Industrial from $43.00 to $44.00 and gave the company an "outperform" rating in a report on Wednesday, August 28th. Wedbush boosted their price target on shares of STAG Industrial from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, August 5th. Wells Fargo & Company upped their price objective on shares of STAG Industrial from $37.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 28th. Finally, Barclays lifted their target price on shares of STAG Industrial from $38.00 to $42.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $41.22.
Read Our Latest Analysis on STAG Industrial
Insider Activity at STAG Industrial
In other news, Director Benjamin S. Butcher sold 34,000 shares of STAG Industrial stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $40.78, for a total transaction of $1,386,520.00. Following the transaction, the director now owns 8,758 shares in the company, valued at $357,151.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company's stock.
STAG Industrial Price Performance
NYSE STAG traded up $0.11 during trading hours on Tuesday, hitting $37.82. 739,310 shares of the company's stock traded hands, compared to its average volume of 1,068,670. The company has a market capitalization of $6.89 billion, a PE ratio of 36.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.60. STAG Industrial, Inc. has a 52-week low of $31.69 and a 52-week high of $41.63. The firm's 50-day moving average is $39.16 and its 200-day moving average is $37.44.
STAG Industrial Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.1233 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.91%. STAG Industrial's dividend payout ratio (DPR) is presently 142.31%.
About STAG Industrial
(
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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