Cetera Advisors LLC increased its position in shares of STAG Industrial, Inc. (NYSE:STAG – Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,359 shares of the real estate investment trust’s stock after acquiring an additional 2,717 shares during the period. Cetera Advisors LLC’s holdings in STAG Industrial were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Advisor Networks LLC raised its stake in shares of STAG Industrial by 1.3% in the second quarter. Cetera Advisor Networks LLC now owns 23,165 shares of the real estate investment trust’s stock valued at $831,000 after acquiring an additional 298 shares during the last quarter. Cim Investment Management Inc. grew its holdings in shares of STAG Industrial by 3.6% in the 1st quarter. Cim Investment Management Inc. now owns 10,026 shares of the real estate investment trust’s stock valued at $339,000 after buying an additional 345 shares during the period. Vestmark Advisory Solutions Inc. boosted its stake in shares of STAG Industrial by 4.4% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 8,706 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 367 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in STAG Industrial by 3.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 10,236 shares of the real estate investment trust’s stock valued at $292,000 after purchasing an additional 373 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in STAG Industrial by 2.4% in the 1st quarter. Advisory Services Network LLC now owns 15,956 shares of the real estate investment trust’s stock valued at $540,000 after purchasing an additional 378 shares during the last quarter. 88.68% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at STAG Industrial
In other STAG Industrial news, Director Benjamin S. Butcher sold 3,150 shares of STAG Industrial stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $36.45, for a total value of $114,817.50. Following the completion of the sale, the director now directly owns 38,938 shares of the company’s stock, valued at $1,419,290.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by company insiders.
STAG Industrial Price Performance
STAG Industrial Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.1225 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.47 annualized dividend and a yield of 4.08%. STAG Industrial’s payout ratio is 144.12%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Raymond James cut their price objective on shares of STAG Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Tuesday, October 31st. Wells Fargo & Company boosted their target price on shares of STAG Industrial from $33.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Evercore ISI decreased their target price on shares of STAG Industrial from $41.00 to $39.00 in a research note on Monday, October 9th. Royal Bank of Canada cut shares of STAG Industrial from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $42.00 to $39.00 in a research note on Friday, November 3rd. Finally, Citigroup boosted their target price on shares of STAG Industrial from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.00.
STAG Industrial Profile
We are a REIT focused on the acquisition, ownership and operation of industrial properties throughout the United States. We seek to (i) identify properties for acquisition that offer relative value across all locations, industrial property types, and tenants through the principled application of our proprietary risk assessment model, (ii) operate our properties in an efficient, cost-effective manner, and (iii) capitalize our business appropriately given the characteristics of our assets.
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