Wolff Wiese Magana LLC boosted its position in STAG Industrial, Inc. (NYSE:STAG – Get Rating) by 133.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 982 shares of the real estate investment trust's stock after acquiring an additional 562 shares during the period. Wolff Wiese Magana LLC's holdings in STAG Industrial were worth $30,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ipswich Investment Management Co. Inc. grew its stake in STAG Industrial by 13.8% in 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 acquiring an additional 3,065 shares during the period. State Street Corp grew its stake 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 valued at $351,258,000 after buying an additional 877,303 shares during the period. Belpointe Asset Management LLC grew its stake in shares of STAG Industrial by 345.7% during the 4th quarter. Belpointe Asset Management LLC now owns 24,654 shares of the real estate investment trust's stock valued at $1,183,000 after buying an additional 19,123 shares during the period. Van ECK Associates Corp grew its stake in shares of STAG Industrial by 16.9% during the 1st quarter. Van ECK Associates Corp now owns 16,045 shares of the real estate investment trust's stock valued at $663,000 after buying an additional 2,317 shares during the period. Finally, abrdn plc grew its stake in shares of STAG Industrial by 8.5% during the 1st quarter. abrdn plc now owns 70,652 shares of the real estate investment trust's stock valued at $2,979,000 after buying an additional 5,507 shares during the period. 84.13% of the stock is owned by hedge funds and other institutional investors.
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STAG Industrial Stock Down 0.5 %
Shares of STAG Industrial stock opened at $29.58 on Friday. The company has a fifty day moving average price of $31.98 and a 200 day moving average price of $34.50. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.70. STAG Industrial, Inc. has a twelve month low of $29.37 and a twelve month high of $48.27. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 2.76 and a beta of 0.98.
STAG Industrial Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a dividend of $0.1217 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.46 dividend on an annualized basis and a yield of 4.94%. STAG Industrial's dividend payout ratio (DPR) is 114.06%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on STAG shares. Jefferies Financial Group lowered their price objective on shares of STAG Industrial from $47.00 to $43.00 and set a "buy" rating for the company in a research note on Thursday, June 30th. Wells Fargo & Company lowered their price objective on shares of 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 equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.25.
About STAG Industrial
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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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