Oppenheimer & Co. Inc. Decreases Position in STAG Industrial, Inc. (NYSE:STAG)

Oppenheimer & Co. Inc. trimmed its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,170 shares of the real estate investment trust’s stock after selling 7,831 shares during the quarter. Oppenheimer & Co. Inc. owned 0.08% of STAG Industrial worth $5,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. J.Safra Asset Management Corp lifted its stake in shares of STAG Industrial by 708.5% during the first quarter. J.Safra Asset Management Corp now owns 663 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 581 shares during the period. Centerpoint Advisors LLC purchased a new position in STAG Industrial in the 2nd quarter worth $25,000. Fidelis Capital Partners LLC acquired a new stake in STAG Industrial during the 1st quarter worth about $29,000. GAMMA Investing LLC grew its stake in STAG Industrial by 56.1% during the 2nd 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. Finally, ICA Group Wealth Management LLC acquired a new position in shares of STAG Industrial in the fourth quarter valued at about $38,000. 88.67% of the stock is owned by institutional investors and hedge funds.

STAG Industrial Price Performance

NYSE:STAG opened at $40.04 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. STAG Industrial, Inc. has a 52 week low of $31.69 and a 52 week high of $41.63. The stock’s 50-day moving average price is $39.42 and its 200-day moving average price is $37.27. The stock has a market capitalization of $7.29 billion, a PE ratio of 40.04, a price-to-earnings-growth ratio of 4.06 and a beta of 1.09.

STAG Industrial Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on STAG. Evercore ISI upped their target price on STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Wedbush increased their price objective on shares of STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. BNP Paribas began coverage on shares of STAG Industrial in a research report on Tuesday, June 4th. They set a “neutral” rating and a $39.00 target price for the company. Wells Fargo & Company increased their price target on 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 boosted their price objective on STAG Industrial from $38.00 to $42.00 and gave the company an “equal weight” rating in a 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’s stock. According to data from MarketBeat, STAG Industrial currently has an average rating of “Hold” and a consensus target price of $41.22.

Insiders Place Their Bets

In other news, Director Benjamin S. Butcher sold 34,000 shares of STAG Industrial stock in a transaction dated 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 sale, the director now owns 8,758 shares in the company, valued at $357,151.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

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.