Wedbush Begins Coverage on STAG Industrial (NYSE:STAG)

Wedbush assumed coverage on shares of STAG Industrial (NYSE:STAG) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage issued a neutral rating and a $38.00 price target on the real estate investment trust’s stock.

A number of other research analysts have also recently issued reports on STAG. BNP Paribas started coverage on shares of STAG Industrial in a report on Tuesday, June 4th. They set a neutral rating and a $39.00 price objective for the company. Barclays decreased their price objective on STAG Industrial from $40.00 to $39.00 and set an equal weight rating for the company in a report on Friday, May 24th. Finally, BMO Capital Markets restated an outperform rating and issued a $42.00 target price (up previously from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $38.90.

STAG Industrial Stock Performance

NYSE STAG opened at $37.60 on Friday. The company has a market cap of $6.85 billion, a P/E ratio of 37.60, a PEG ratio of 5.31 and a beta of 1.09. The company has a fifty day simple moving average of $35.51 and a 200 day simple moving average of $36.77. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.78. STAG Industrial has a 12-month low of $31.69 and a 12-month high of $39.61.

STAG Industrial Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.1233 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.94%. STAG Industrial’s dividend payout ratio (DPR) is presently 148.00%.

Insider Activity

In related news, Director Benjamin S. Butcher sold 30,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $34.81, for a total value of $1,044,300.00. Following the transaction, the director now directly owns 8,304 shares of the company’s stock, valued at approximately $289,062.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On STAG Industrial

Several institutional investors and hedge funds have recently bought and sold shares of STAG. B. Riley Wealth Advisors Inc. increased its holdings in STAG Industrial by 8.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 10,666 shares of the real estate investment trust’s stock worth $369,000 after acquiring an additional 811 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of STAG Industrial by 94.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 60,993 shares of the real estate investment trust’s stock valued at $2,105,000 after purchasing an additional 29,593 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of STAG Industrial by 3.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 332,097 shares of the real estate investment trust’s stock valued at $11,461,000 after buying an additional 11,384 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in STAG Industrial by 35.5% in the 4th quarter. Sound Income Strategies LLC now owns 1,363 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 357 shares during the period. Finally, Peak Financial Advisors LLC grew its stake in STAG Industrial by 22.1% in the 4th quarter. Peak Financial Advisors LLC now owns 10,360 shares of the real estate investment trust’s stock valued at $407,000 after buying an additional 1,875 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

About STAG Industrial

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.