STAG Industrial (NYSE:STAG) Price Target Lowered to $38.00 at Wells Fargo & Company

STAG Industrial (NYSE:STAG) had its target price trimmed by Wells Fargo & Company from $41.00 to $38.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on STAG. Wedbush raised their price target on STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Barclays reduced their price objective on shares of STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Finally, Evercore ISI increased their target price on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.13.

STAG Industrial Price Performance

Shares of STAG stock traded down $0.16 during trading hours on Monday, hitting $36.65. The company had a trading volume of 66,858 shares, compared to its average volume of 1,062,483. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 37.18 and a beta of 1.09. STAG Industrial has a 12 month low of $33.99 and a 12 month high of $41.63. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.42 and a current ratio of 1.42. The firm’s fifty day moving average is $38.77 and its 200 day moving average is $37.47.

STAG Industrial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.1233 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 4.04%. STAG Industrial’s dividend payout ratio is currently 149.49%.

Institutional Investors Weigh In On STAG Industrial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC bought a new stake in STAG Industrial during the 1st quarter valued at $256,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in STAG Industrial in the 1st quarter worth about $3,222,000. BNP Paribas Financial Markets raised its holdings in shares of STAG Industrial by 12.9% during the first quarter. BNP Paribas Financial Markets now owns 119,156 shares of the real estate investment trust’s stock valued at $4,580,000 after purchasing an additional 13,574 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of STAG Industrial during the 1st quarter valued at about $29,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of STAG Industrial in the first quarter worth approximately $181,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

STAG Industrial Company 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.