Oppenheimer Asset Management Inc. Reduces Stake in STAG Industrial, Inc. (NYSE:STAG)

Oppenheimer Asset Management Inc. cut its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 1.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 86,900 shares of the real estate investment trust’s stock after selling 962 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in STAG Industrial were worth $3,397,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of STAG. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of STAG Industrial by 2.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,930 shares of the real estate investment trust’s stock valued at $4,264,000 after buying an additional 3,015 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in STAG Industrial by 40.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,649 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 2,760 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of STAG Industrial by 12.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 967,485 shares of the real estate investment trust’s stock worth $37,190,000 after purchasing an additional 106,217 shares during the period. Vanguard Group Inc. grew its position in STAG Industrial by 0.7% during the first quarter. Vanguard Group Inc. now owns 26,237,263 shares of the real estate investment trust’s stock valued at $1,008,560,000 after buying an additional 176,332 shares during the period. Finally, Covestor Ltd increased its holdings in STAG Industrial by 237.6% in the first quarter. Covestor Ltd now owns 1,148 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 808 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on STAG. Evercore ISI increased their target price on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Wells Fargo & Company dropped their price objective on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Wedbush boosted their price objective on STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Barclays decreased 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.13.

STAG Industrial Stock Performance

Shares of NYSE:STAG opened at $36.22 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42. STAG Industrial, Inc. has a 1 year low of $34.09 and a 1 year high of $41.63. The firm has a market capitalization of $6.60 billion, a PE ratio of 36.58 and a beta of 1.09. The business’s 50 day moving average price is $38.14 and its 200-day moving average price is $37.59.

STAG Industrial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.1233 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Tuesday, December 31st. STAG Industrial’s payout ratio is 149.49%.

STAG Industrial 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.