Keeley Teton Advisors LLC cut its position in STAG Industrial, Inc. (NYSE:STAG – Get Rating) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,639 shares of the real estate investment trust's stock after selling 4,698 shares during the quarter. Keeley Teton Advisors LLC owned about 0.07% of STAG Industrial worth $5,154,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Ipswich Investment Management Co. Inc. raised its stake 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 valued at $1,043,000 after purchasing an additional 3,065 shares during the period. abrdn plc raised its stake in shares of STAG Industrial by 7.2% during the 4th quarter. abrdn plc now owns 65,145 shares of the real estate investment trust's stock valued at $3,124,000 after purchasing an additional 4,360 shares during the period. State Street Corp grew its position in STAG Industrial by 13.6% during the fourth quarter. State Street Corp now owns 7,305,816 shares of the real estate investment trust's stock worth $351,258,000 after buying an additional 877,303 shares in the last quarter. Belpointe Asset Management LLC grew its position in STAG Industrial by 345.7% during the fourth quarter. Belpointe Asset Management LLC now owns 24,654 shares of the real estate investment trust's stock worth $1,183,000 after buying an additional 19,123 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in STAG Industrial by 16.9% during the first quarter. Van ECK Associates Corp now owns 16,045 shares of the real estate investment trust's stock worth $663,000 after buying an additional 2,317 shares in the last quarter. 84.13% of the stock is currently owned by institutional investors.
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STAG Industrial Price Performance
STAG opened at $31.03 on Wednesday. The stock has a 50-day moving average price of $31.95 and a 200-day moving average price of $34.95. STAG Industrial, Inc. has a 12-month low of $29.43 and a 12-month high of $48.27. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $5.56 billion, a P/E ratio of 24.24, a PEG ratio of 2.96 and a beta of 0.98.
STAG Industrial Dividend Announcement
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Thursday, September 29th. STAG Industrial's payout ratio is currently 114.06%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on STAG shares. Wells Fargo & Company reduced their target price on STAG Industrial from $43.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, August 11th. Jefferies Financial Group reduced their target price on STAG Industrial from $47.00 to $43.00 and set a "buy" rating for the company in a research report on Thursday, June 30th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $45.25.
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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