STAG Industrial (NYSE:STAG) Sets New 12-Month Low – Here’s Why

STAG Industrial, Inc. (NYSE:STAG) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $32.61 and last traded at $32.68, with a volume of 58955 shares changing hands. The stock had previously closed at $33.30.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STAG. Wells Fargo & Company dropped their price target on shares of STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Barclays cut their target price on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, Raymond James increased their price target on STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Four research 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 an average rating of “Moderate Buy” and an average target price of $41.00.

STAG Industrial Stock Down 2.3 %

The stock has a fifty day moving average of $35.57 and a 200 day moving average of $37.56. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $5.93 billion, a P/E ratio of 32.85 and a beta of 1.09.

Institutional Trading of STAG Industrial

Several hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its position in STAG Industrial by 54.1% during the third quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 306 shares in the last quarter. Resources Management Corp CT ADV raised its holdings in shares of STAG Industrial by 1.3% during the 2nd quarter. Resources Management Corp CT ADV now owns 29,475 shares of the real estate investment trust’s stock valued at $1,063,000 after buying an additional 370 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of STAG Industrial by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 107,571 shares of the real estate investment trust’s stock valued at $4,204,000 after buying an additional 390 shares in the last quarter. Atria Investments Inc lifted its position in STAG Industrial by 1.6% in the 3rd quarter. Atria Investments Inc now owns 26,428 shares of the real estate investment trust’s stock worth $1,033,000 after buying an additional 414 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its stake in STAG Industrial by 0.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 111,167 shares of the real estate investment trust’s stock worth $4,346,000 after buying an additional 421 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

About STAG Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.