Evercore ISI Raises STAG Industrial (NYSE:STAG) Price Target to $44.00

STAG Industrial (NYSE:STAG) had its price objective lifted by Evercore ISI from $43.00 to $44.00 in a research note published on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the stock. 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 report on Wednesday. BNP Paribas started coverage on STAG Industrial in a research note on Tuesday, June 4th. They issued a neutral rating and a $39.00 price target on the stock. Wedbush lifted their price objective on STAG Industrial from $44.00 to $45.00 and gave the company an outperform rating in a research note on Monday, August 5th. Finally, Barclays boosted their target price on STAG Industrial from $38.00 to $42.00 and gave the stock an equal weight rating in a report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $41.22.

STAG Industrial Stock Up 1.2 %

NYSE:STAG opened at $40.58 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm’s 50-day moving average price is $38.61 and its 200-day moving average price is $37.18. The company has a market capitalization of $7.39 billion, a PE ratio of 40.58, a P/E/G ratio of 4.16 and a beta of 1.09. STAG Industrial has a 1-year low of $31.69 and a 1-year high of $41.63.

STAG Industrial Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.1233 per share. This represents a yield of 3.63%. This is an increase from STAG Industrial’s previous dividend of $0.12. The ex-dividend date was Wednesday, July 31st. STAG Industrial’s dividend payout ratio (DPR) is currently 148.00%.

Insiders Place Their Bets

In other news, Director Benjamin S. Butcher sold 34,000 shares of the company’s 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 directly owns 8,758 shares of the company’s stock, valued at $357,151.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Benjamin S. Butcher sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 8,304 shares in the company, valued at $289,062.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin S. Butcher sold 34,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $40.78, for a total transaction of $1,386,520.00. Following the sale, the director now owns 8,758 shares of the company’s stock, valued at $357,151.24. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On STAG Industrial

A number of institutional investors and hedge funds have recently modified their holdings of STAG. Dana Investment Advisors Inc. lifted its holdings in STAG Industrial by 2.2% in the second quarter. Dana Investment Advisors Inc. now owns 179,722 shares of the real estate investment trust’s stock valued at $6,481,000 after acquiring an additional 3,784 shares during the period. Delphi Management Inc. MA lifted its stake in shares of STAG Industrial by 19.0% in the 2nd quarter. Delphi Management Inc. MA now owns 51,508 shares of the real estate investment trust’s stock worth $1,857,000 after purchasing an additional 8,220 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of STAG Industrial by 65.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 9,576 shares of the real estate investment trust’s stock worth $345,000 after purchasing an additional 3,776 shares during the period. Creative Planning boosted its holdings in shares of STAG Industrial by 5.3% in the second quarter. Creative Planning now owns 18,365 shares of the real estate investment trust’s stock worth $662,000 after buying an additional 918 shares during the last quarter. Finally, Algert Global LLC bought a new stake in STAG Industrial during the second quarter valued at approximately $660,000. 88.67% of the stock is currently owned by hedge funds and other 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.