STAG Industrial (NYSE:STAG) Price Target Raised to $40.00 at Wells Fargo & Company

STAG Industrial (NYSE:STAG) had its price target raised by Wells Fargo & Company from $37.00 to $40.00 in a report issued on Monday, Price Targets.com reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on STAG. Royal Bank of Canada upped their target price on shares of STAG Industrial from $36.00 to $42.00 and gave the stock an outperform rating in a research note on Tuesday, June 1st. Raymond James increased their price objective on shares of STAG Industrial from $35.00 to $37.00 and gave the company an outperform rating in a research note on Thursday, May 6th. Finally, Zacks Investment Research downgraded shares of STAG Industrial from a buy rating to a hold rating in a research note on Thursday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $36.11.

Shares of NYSE:STAG opened at $38.66 on Monday. The company has a market cap of $6.17 billion, a P/E ratio of 37.53, a price-to-earnings-growth ratio of 5.09 and a beta of 0.89. STAG Industrial has a 12 month low of $26.44 and a 12 month high of $38.79. The firm’s 50-day moving average price is $35.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.63 and a quick ratio of 1.63.

STAG Industrial (NYSE:STAG) last issued its quarterly earnings results on Tuesday, May 4th. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.35). The firm had revenue of $134.00 million for the quarter, compared to the consensus estimate of $130.82 million. STAG Industrial had a net margin of 32.77% and a return on equity of 6.48%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 earnings per share. As a group, analysts predict that STAG Industrial will post 1.99 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th will be issued a $0.1208 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 3.75%. STAG Industrial’s dividend payout ratio is currently 76.72%.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. IFG Advisory LLC raised its holdings in shares of STAG Industrial by 3.2% in the first quarter. IFG Advisory LLC now owns 9,257 shares of the real estate investment trust’s stock worth $311,000 after buying an additional 286 shares during the last quarter. Dearborn Partners LLC raised its holdings in shares of STAG Industrial by 2.0% in the first quarter. Dearborn Partners LLC now owns 14,637 shares of the real estate investment trust’s stock worth $492,000 after buying an additional 291 shares during the last quarter. KG&L Capital Management LLC raised its holdings in shares of STAG Industrial by 5.0% in the first quarter. KG&L Capital Management LLC now owns 7,469 shares of the real estate investment trust’s stock worth $251,000 after buying an additional 355 shares during the last quarter. Assetmark Inc. increased its stake in shares of STAG Industrial by 19.6% in the fourth quarter. Assetmark Inc. now owns 2,201 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 361 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of STAG Industrial by 0.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 71,799 shares of the real estate investment trust’s stock worth $2,413,000 after acquiring an additional 419 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

About STAG Industrial

STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.

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Analyst Recommendations for STAG Industrial (NYSE:STAG)

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