Sound Income Strategies LLC Cuts Position in STAG Industrial, Inc. (NYSE:STAG)

by · The Cerbat Gem

Sound Income Strategies LLC reduced its stake in shares of STAG Industrial, Inc. (NYSE:STAG – Free Report) by 18.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,479 shares of the real estate investment trust’s stock after selling 324 shares during the quarter. Sound Income Strategies LLC’s holdings in STAG Industrial were worth $58,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in STAG. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of STAG Industrial in the 1st quarter valued at about $3,222,000. Centersquare Investment Management LLC boosted its stake in STAG Industrial by 24.9% in the first quarter. Centersquare Investment Management LLC now owns 129,800 shares of the real estate investment trust’s stock valued at $4,990,000 after acquiring an additional 25,844 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in STAG Industrial by 12.3% in the first quarter. Westfield Capital Management Co. LP now owns 967,485 shares of the real estate investment trust’s stock worth $37,190,000 after purchasing an additional 106,217 shares during the last quarter. Cetera Investment Advisers increased its position in shares of STAG Industrial by 763.9% during the first quarter. Cetera Investment Advisers now owns 70,788 shares of the real estate investment trust’s stock worth $2,721,000 after purchasing an additional 62,594 shares in the last quarter. Finally, Earnest Partners LLC lifted its holdings in shares of STAG Industrial by 2.2% during the 2nd quarter. Earnest Partners LLC now owns 3,652,984 shares of the real estate investment trust’s stock valued at $131,727,000 after purchasing an additional 78,189 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

STAG Industrial Trading Up 0.3 %

Shares of NYSE:STAG opened at $37.36 on Tuesday. The company has a market cap of $6.80 billion, a PE ratio of 35.92 and a beta of 1.09. The company’s 50 day moving average is $39.27 and its two-hundred day moving average is $37.41. STAG Industrial, Inc. has a 52 week low of $31.69 and a 52 week high of $41.63. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.82.

STAG Industrial Announces Dividend

The company also recently announced 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 is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.96%. STAG Industrial’s dividend payout ratio (DPR) is presently 142.31%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on STAG shares. Wedbush upped their target price on STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Evercore ISI increased their price objective on shares of STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Wells Fargo & Company boosted their target price on shares of STAG Industrial from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Barclays raised their price target on shares of STAG Industrial from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, STAG Industrial has a consensus rating of “Hold” and an average price target of $41.22.

View Our Latest Analysis on STAG

Insider Buying and Selling

In other STAG Industrial news, Director Benjamin S. Butcher sold 34,000 shares of STAG Industrial stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $40.78, for a total value of $1,386,520.00. Following the transaction, the director now directly owns 8,758 shares in the company, valued at approximately $357,151.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

About STAG Industrial

(Free Report)

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.

Further Reading

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