Virginia Wealth Management Group Inc. Purchases 22,493 Shares of STAG Industrial, Inc. (NYSE:STAG)

Virginia Wealth Management Group Inc. grew its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 37.5% in the third quarter, HoldingsChannel.com reports. The fund owned 82,453 shares of the real estate investment trust’s stock after purchasing an additional 22,493 shares during the period. Virginia Wealth Management Group Inc.’s holdings in STAG Industrial were worth $3,223,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of STAG. J.Safra Asset Management Corp boosted its holdings in STAG Industrial by 708.5% during the 1st quarter. J.Safra Asset Management Corp now owns 663 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 581 shares during the period. Centerpoint Advisors LLC purchased a new position in shares of STAG Industrial during the 2nd quarter worth approximately $25,000. Fidelis Capital Partners LLC bought a new position in STAG Industrial in the first quarter worth $29,000. GAMMA Investing LLC lifted its position in STAG Industrial by 56.1% during the second quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 326 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of STAG Industrial by 54.1% during the 3rd quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 306 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

STAG Industrial Stock Up 0.6 %

STAG stock traded up $0.21 during midday trading on Friday, hitting $37.05. The company’s stock had a trading volume of 47,340 shares, compared to its average volume of 1,065,857. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.82. STAG Industrial, Inc. has a 12 month low of $31.69 and a 12 month high of $41.63. The company has a market cap of $6.75 billion, a PE ratio of 35.42 and a beta of 1.09. The firm’s 50-day moving average is $39.36 and its 200-day moving average is $37.43.

STAG Industrial Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.123 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.98%. STAG Industrial’s payout ratio is 142.31%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Evercore ISI increased their price target 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. Wells Fargo & Company raised their target price on shares of STAG Industrial from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Wedbush lifted their target price 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. Finally, Barclays upped their price target on STAG Industrial from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.22.

Insider Activity at STAG Industrial

In other STAG Industrial news, Director Benjamin S. Butcher sold 34,000 shares of STAG Industrial stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $40.78, for a total value of $1,386,520.00. Following the completion of the sale, the director now owns 8,758 shares of the company’s stock, valued at approximately $357,151.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

STAG Industrial Profile

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.