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

STAG Industrial (NYSE:STAG) had its target price cut by Wells Fargo & Company from $41.00 to $38.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on the company. Evercore ISI lifted their target price on STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Barclays reduced their price objective on shares of 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. Finally, Wedbush boosted their target price on shares of STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, STAG Industrial currently has an average rating of “Hold” and an average price target of $41.13.

STAG Industrial Stock Performance

Shares of NYSE STAG opened at $37.18 on Monday. STAG Industrial has a 1 year low of $33.99 and a 1 year high of $41.63. The firm has a market cap of $6.77 billion, a P/E ratio of 37.55 and a beta of 1.09. The stock has a fifty day moving average price of $38.53 and a two-hundred day moving average price of $37.51. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.42 and a current ratio of 1.42.

STAG Industrial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.1233 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.98%. STAG Industrial’s dividend payout ratio (DPR) is presently 149.49%.

Hedge Funds Weigh In On STAG Industrial

Several institutional investors and hedge funds have recently added to or reduced their stakes in STAG. Ceredex Value Advisors LLC acquired a new stake in shares of STAG Industrial in the second quarter worth $13,188,000. Bessemer Group Inc. grew its stake in STAG Industrial by 69.3% during the 1st quarter. Bessemer Group Inc. now owns 785,916 shares of the real estate investment trust’s stock valued at $30,211,000 after acquiring an additional 321,785 shares in the last quarter. F M Investments LLC acquired a new position in shares of STAG Industrial in the 2nd quarter valued at about $6,534,000. Vanguard Group Inc. lifted its position in shares of STAG Industrial by 0.7% in the first quarter. Vanguard Group Inc. now owns 26,237,263 shares of the real estate investment trust’s stock worth $1,008,560,000 after purchasing an additional 176,332 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of STAG Industrial by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,865,673 shares of the real estate investment trust’s stock worth $103,333,000 after purchasing an additional 167,532 shares during the period. 88.67% of the stock is currently 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.