Waterfront Capital Partners LLC increased its holdings in shares of STAG Industrial, Inc. (NYSE:STAG – Get Rating) by 27.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,238,287 shares of the real estate investment trust's stock after purchasing an additional 481,408 shares during the period. STAG Industrial makes up approximately 5.8% of Waterfront Capital Partners LLC's holdings, making the stock its largest position. Waterfront Capital Partners LLC owned 1.25% of STAG Industrial worth $92,553,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Columbia Asset Management increased its stake in STAG Industrial by 4.5% during the fourth quarter. Columbia Asset Management now owns 5,820 shares of the real estate investment trust's stock valued at $279,000 after acquiring an additional 250 shares during the period. Baystate Wealth Management LLC increased its stake in STAG Industrial by 17.5% during the first quarter. Baystate Wealth Management LLC now owns 1,752 shares of the real estate investment trust's stock valued at $72,000 after acquiring an additional 261 shares during the period. Huntington National Bank increased its stake in STAG Industrial by 20.0% during the first quarter. Huntington National Bank now owns 1,976 shares of the real estate investment trust's stock valued at $82,000 after acquiring an additional 329 shares during the period. Moors & Cabot Inc. increased its stake in STAG Industrial by 0.4% during the first quarter. Moors & Cabot Inc. now owns 78,956 shares of the real estate investment trust's stock valued at $3,265,000 after acquiring an additional 345 shares during the period. Finally, Northcape Wealth Management LLC increased its stake in STAG Industrial by 5.8% during the first quarter. Northcape Wealth Management LLC now owns 6,424 shares of the real estate investment trust's stock valued at $266,000 after acquiring an additional 351 shares during the period. Institutional investors and hedge funds own 84.13% of the company's stock.
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Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on STAG Industrial from $43.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, August 11th. Jefferies Financial Group lowered their price objective on STAG Industrial from $47.00 to $43.00 and set a "buy" rating on the stock in a research note on Thursday, June 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $45.25.
STAG Industrial Price Performance
Shares of STAG stock traded up $0.67 during trading hours on Friday, hitting $31.90. The company had a trading volume of 792,773 shares, compared to its average volume of 997,457. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.90 and a beta of 0.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.34 and a current ratio of 1.34. STAG Industrial, Inc. has a 12 month low of $29.43 and a 12 month high of $48.27. The firm's fifty day moving average is $31.93 and its 200 day moving average is $35.08.
STAG Industrial Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.1217 dividend. This represents a $1.46 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Thursday, September 29th. STAG Industrial's payout ratio is currently 114.06%.
STAG Industrial Company Profile
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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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