STAG Industrial (NYSE:STAG) Sets New 1-Year Low at $29.35

Shares of STAG Industrial, Inc. (NYSE:STAGGet Rating) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $29.35 and last traded at $29.81, with a volume of 4593 shares trading hands. The stock had previously closed at $29.74.

Wall Street Analyst Weigh In

STAG has been the subject of several analyst reports. Jefferies Financial Group decreased their price objective on STAG Industrial from $47.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Wells Fargo & Company cut their price target on STAG Industrial from $43.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, August 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.25.

STAG Industrial Trading Down 0.4 %

The company has a 50 day simple moving average of $31.98 and a 200 day simple moving average of $34.56. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $5.31 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 2.80 and a beta of 0.98.

STAG Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.1217 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.46 annualized dividend and a yield of 4.93%. STAG Industrial’s dividend payout ratio (DPR) is currently 114.06%.

Institutional Investors Weigh In On STAG Industrial

Large investors have recently bought and sold shares of the company. Ipswich Investment Management Co. Inc. boosted its holdings in shares of STAG Industrial by 13.8% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 25,225 shares of the real estate investment trust’s stock worth $1,043,000 after purchasing an additional 3,065 shares during the last quarter. State Street Corp boosted its holdings in shares of STAG Industrial by 13.6% during the 4th quarter. State Street Corp now owns 7,305,816 shares of the real estate investment trust’s stock worth $351,258,000 after purchasing an additional 877,303 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in STAG Industrial by 345.7% in the fourth quarter. Belpointe Asset Management LLC now owns 24,654 shares of the real estate investment trust’s stock valued at $1,183,000 after acquiring an additional 19,123 shares during the last quarter. Van ECK Associates Corp lifted its holdings in STAG Industrial by 16.9% in the first quarter. Van ECK Associates Corp now owns 16,045 shares of the real estate investment trust’s stock valued at $663,000 after acquiring an additional 2,317 shares during the last quarter. Finally, abrdn plc lifted its holdings in STAG Industrial by 8.5% in the first quarter. abrdn plc now owns 70,652 shares of the real estate investment trust’s stock valued at $2,979,000 after acquiring an additional 5,507 shares during the last quarter. 84.13% of the stock is currently owned by hedge funds and other institutional investors.

STAG Industrial Company Profile

(Get Rating)

STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.

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