Cim Investment Management Inc. Reduces Position in STAG Industrial, Inc. (NYSE:STAG)

Cim Investment Management Inc. reduced its position in shares of STAG Industrial, Inc. (NYSE:STAG) by 19.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,100 shares of the real estate investment trust’s stock after selling 1,926 shares during the period. Cim Investment Management Inc.’s holdings in STAG Industrial were worth $292,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in STAG Industrial by 56.1% in the second quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 326 shares during the last quarter. Insight Folios Inc increased its position in shares of STAG Industrial by 4.1% during the first quarter. Insight Folios Inc now owns 8,678 shares of the real estate investment trust’s stock worth $334,000 after purchasing an additional 341 shares in the last quarter. Claro Advisors LLC lifted its holdings in shares of STAG Industrial by 5.8% in the 1st quarter. Claro Advisors LLC now owns 6,433 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 352 shares during the last quarter. Shepherd Financial Partners LLC boosted its position in shares of STAG Industrial by 1.9% in the 4th quarter. Shepherd Financial Partners LLC now owns 18,786 shares of the real estate investment trust’s stock valued at $738,000 after purchasing an additional 356 shares during the period. Finally, Verdence Capital Advisors LLC grew its stake in STAG Industrial by 4.2% during the 1st quarter. Verdence Capital Advisors LLC now owns 9,038 shares of the real estate investment trust’s stock worth $347,000 after buying an additional 368 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

STAG Industrial Trading Up 0.5 %

NYSE:STAG opened at $39.24 on Friday. STAG Industrial, Inc. has a 1 year low of $31.69 and a 1 year high of $41.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a fifty day moving average price of $39.81 and a two-hundred day moving average price of $37.42. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 4.09 and a beta of 1.09.

STAG Industrial Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.1233 dividend. This represents a dividend yield of 3.63%. The ex-dividend date was Wednesday, July 31st. This is an increase from STAG Industrial’s previous dividend of $0.12. STAG Industrial’s dividend payout ratio (DPR) is currently 148.00%.

Insider Buying and Selling

In related news, Director Benjamin S. Butcher sold 34,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $40.78, for a total value of $1,386,520.00. Following the sale, the director now owns 8,758 shares in the company, valued at approximately $357,151.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. BNP Paribas initiated coverage on STAG Industrial in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $39.00 price objective for the company. Wells Fargo & Company increased their price target on shares of STAG Industrial from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Evercore ISI raised their price objective on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Wedbush upped their target price on shares of STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Barclays boosted their price target on STAG Industrial from $38.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.22.

STAG Industrial Company Profile

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.