STAG Industrial (NYSE:STAG) Price Target Cut to $40.00

STAG Industrial (NYSE:STAG) had its price target reduced by investment analysts at Barclays from $42.00 to $40.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 7.87% from the company’s previous close.

Other analysts also recently issued reports about the stock. Evercore ISI boosted their target price on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a 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 report on Wednesday, August 28th. Finally, Wedbush boosted their target price on shares of STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.00.

STAG Industrial Stock Down 1.1 %

Shares of STAG stock opened at $37.08 on Monday. The stock has a market cap of $6.75 billion, a P/E ratio of 35.65 and a beta of 1.09. STAG Industrial has a 52 week low of $31.95 and a 52 week high of $41.63. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The company’s fifty day simple moving average is $38.93 and its two-hundred day simple moving average is $37.43.

Insider Activity at STAG Industrial

In related news, Director Benjamin S. Butcher sold 34,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $40.78, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STAG Industrial

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

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.