Sound Income Strategies LLC Grows Stock Holdings in STAG Industrial, Inc. (NYSE:STAG)

Sound Income Strategies LLC increased its stake in shares of STAG Industrial, Inc. (NYSE:STAG) by 32.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,808 shares of the real estate investment trust’s stock after purchasing an additional 445 shares during the period. Sound Income Strategies LLC’s holdings in STAG Industrial were worth $70,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Spire Wealth Management boosted its position in shares of STAG Industrial by 124.1% during the fourth quarter. Spire Wealth Management now owns 688 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 381 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in STAG Industrial during the fourth quarter valued at $31,000. ICA Group Wealth Management LLC bought a new position in STAG Industrial during the fourth quarter valued at $38,000. Transcendent Capital Group LLC bought a new position in STAG Industrial during the fourth quarter valued at $43,000. Finally, Fifth Third Bancorp lifted its position in STAG Industrial by 31.4% during the fourth quarter. Fifth Third Bancorp now owns 1,189 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 284 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BNP Paribas assumed coverage on shares of STAG Industrial in a research report on Tuesday, June 4th. They set a “neutral” rating and a $39.00 price objective for the company. Barclays lowered their price objective on shares of STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $42.00 target price (up previously from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Insider Buying and Selling

In related news, Director Benjamin S. Butcher sold 30,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $34.81, for a total value of $1,044,300.00. Following the transaction, the director now owns 8,304 shares of the company’s stock, valued at approximately $289,062.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

STAG Industrial Price Performance

STAG Industrial stock opened at $35.05 on Thursday. The firm has a 50-day moving average price of $35.19 and a 200-day moving average price of $36.97. The firm has a market capitalization of $6.38 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 4.98 and a beta of 1.08. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.78. STAG Industrial, Inc. has a 12-month low of $31.69 and a 12-month high of $39.61.

STAG Industrial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.1233 dividend. This represents a $1.48 annualized dividend and a yield of 4.22%. The ex-dividend date is Friday, June 28th. STAG Industrial’s dividend payout ratio is presently 148.00%.

About STAG Industrial

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.