Geode Capital Management LLC grew its stake in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,403,540 shares of the real estate investment trust's stock after purchasing an additional 21,925 shares during the period. Geode Capital Management LLC owned approximately 1.87% of STAG Industrial worth $133,077,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of STAG. Centerpoint Advisors LLC bought a new position in shares of STAG Industrial in the 2nd quarter worth about $25,000. UMB Bank n.a. raised its holdings in STAG Industrial by 54.1% in the third quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust's stock worth $34,000 after buying an additional 306 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of STAG Industrial during the second quarter valued at approximately $38,000. Blue Trust Inc. raised its holdings in STAG Industrial by 1,728.4% in the 2nd quarter. Blue Trust Inc. now owns 1,353 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 1,279 shares during the last quarter. Finally, Coastline Trust Co bought a new position in STAG Industrial in the 3rd quarter valued at approximately $55,000. Hedge funds and other institutional investors own 88.67% of the company's stock.
STAG Industrial Price Performance
STAG traded down $0.43 on Tuesday, hitting $35.38. 971,946 shares of the company's stock traded hands, compared to its average volume of 1,071,233. STAG Industrial, Inc. has a one year low of $34.09 and a one year high of $41.63. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.87. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 35.74 and a beta of 1.07. The company's 50 day simple moving average is $36.94 and its 200-day simple moving average is $37.77.
STAG Industrial Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given 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 4.18%. STAG Industrial's dividend payout ratio is currently 149.49%.
Analysts Set New Price Targets
A number of research firms have commented on STAG. Barclays reduced their target price on STAG Industrial from $42.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. Evercore ISI upped their target price on shares of STAG Industrial from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, August 28th. Raymond James lifted their price target on shares of STAG Industrial from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company lowered their price objective on shares of STAG Industrial from $41.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $41.00.
Read Our Latest Report on STAG Industrial
STAG Industrial Company Profile
(
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.
See Also
Before you consider STAG Industrial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and STAG Industrial wasn't on the list.
While STAG Industrial currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
