Thrivent Financial for Lutherans raised its stake in shares of STAG Industrial, Inc. (NYSE:STAG - Free Report) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 626,981 shares of the real estate investment trust's stock after purchasing an additional 21,764 shares during the quarter. Thrivent Financial for Lutherans owned 0.34% of STAG Industrial worth $24,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in STAG. Natixis Advisors LLC increased its position in STAG Industrial by 2.6% during the 3rd quarter. Natixis Advisors LLC now owns 358,301 shares of the real estate investment trust's stock valued at $14,006,000 after buying an additional 9,097 shares in the last quarter. Coastline Trust Co purchased a new stake in shares of STAG Industrial during the 3rd quarter valued at about $55,000. CIBC Asset Management Inc purchased a new position in shares of STAG Industrial during the 3rd quarter worth $212,000. Metis Global Partners LLC increased its position in STAG Industrial by 29.7% in the third quarter. Metis Global Partners LLC now owns 18,748 shares of the real estate investment trust's stock worth $733,000 after buying an additional 4,294 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in STAG Industrial during the 3rd quarter worth approximately $333,000. Hedge funds and other institutional investors own 88.67% of the company's stock.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Wedbush increased their price objective on shares of STAG Industrial from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, August 5th. Barclays decreased 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. Evercore ISI upped their target price on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company lowered their price target on STAG Industrial from $41.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $41.13.
Check Out Our Latest Stock Report on STAG
STAG Industrial Stock Performance
Shares of STAG stock traded down $0.35 on Wednesday, hitting $35.97. The company had a trading volume of 874,005 shares, compared to its average volume of 1,071,005. STAG Industrial, Inc. has a twelve month low of $34.09 and a twelve month high of $41.63. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.87. The firm has a market cap of $6.55 billion, a P/E ratio of 36.69 and a beta of 1.09. The company has a 50-day moving average price of $38.01 and a 200-day moving average price of $37.65.
STAG Industrial Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors 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 4.11%. The ex-dividend date of this dividend is Tuesday, December 31st. STAG Industrial's dividend payout ratio is currently 149.49%.
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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