MQS Management LLC Makes New $270,000 Investment in STAG Industrial, Inc. (NYSE:STAG)

MQS Management LLC bought a new position in shares of STAG Industrial, Inc. (NYSE:STAG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,016 shares of the real estate investment trust’s stock, valued at approximately $270,000.

A number of other hedge funds also recently added to or reduced their stakes in STAG. J.Safra Asset Management Corp raised its holdings in shares of STAG Industrial by 708.5% in the 1st quarter. J.Safra Asset Management Corp now owns 663 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 581 shares in the last quarter. Spire Wealth Management raised its holdings in shares of STAG Industrial by 124.1% in the 4th quarter. Spire Wealth Management now owns 688 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 381 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of STAG Industrial in the 1st quarter valued at $29,000. HHM Wealth Advisors LLC acquired a new stake in STAG Industrial during the 4th quarter worth $31,000. Finally, ICA Group Wealth Management LLC acquired a new stake in STAG Industrial during the 4th quarter worth $38,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other STAG Industrial news, Director Benjamin S. Butcher sold 30,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $34.81, for a total transaction of $1,044,300.00. Following the transaction, the director now directly owns 8,304 shares in the company, valued at $289,062.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $42.00 price target (up from $41.00) on shares of STAG Industrial in a research note on Monday, April 8th. BNP Paribas assumed coverage on shares of STAG Industrial in a research note on Tuesday, June 4th. They set a “neutral” rating and a $39.00 price target on the stock. Wedbush upgraded shares of STAG Industrial from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $38.00 to $44.00 in a research note on Monday. Finally, Barclays cut their price target on shares of STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.50.

STAG Industrial Stock Performance

Shares of NYSE:STAG traded up $0.49 during midday trading on Friday, hitting $39.90. The stock had a trading volume of 105,314 shares, compared to its average volume of 1,128,931. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.78. STAG Industrial, Inc. has a 1 year low of $31.69 and a 1 year high of $40.68. The stock has a 50 day moving average price of $36.16 and a two-hundred day moving average price of $36.81. The company has a market capitalization of $7.26 billion, a PE ratio of 39.41, a P/E/G ratio of 5.59 and a beta of 1.09.

STAG Industrial Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.1233 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 3.71%. STAG Industrial’s payout ratio is currently 148.00%.

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.