STAG Industrial, Inc. (NYSE:STAG) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in STAG Industrial, Inc. (NYSE:STAG) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ceredex Value Advisors LLC acquired a new position in STAG Industrial in the second quarter valued at approximately $13,188,000. Bessemer Group Inc. raised its position in STAG Industrial by 69.3% in the first quarter. Bessemer Group Inc. now owns 785,916 shares of the real estate investment trust’s stock valued at $30,211,000 after purchasing an additional 321,785 shares during the period. F M Investments LLC acquired a new position in shares of STAG Industrial in the 2nd quarter valued at $6,534,000. Vanguard Group Inc. grew its holdings in shares of STAG Industrial by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 26,237,263 shares of the real estate investment trust’s stock worth $1,008,560,000 after purchasing an additional 176,332 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of STAG Industrial by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,865,673 shares of the real estate investment trust’s stock worth $103,333,000 after purchasing an additional 167,532 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

STAG Industrial Stock Performance

Shares of STAG stock opened at $36.22 on Friday. The firm has a 50 day moving average of $38.14 and a two-hundred day moving average of $37.59. The stock has a market capitalization of $6.60 billion, a PE ratio of 36.58 and a beta of 1.09. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.87. STAG Industrial, Inc. has a 52 week low of $34.09 and a 52 week high of $41.63.

STAG Industrial Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have weighed in on STAG. Wells Fargo & Company lowered their target price on shares of STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Wedbush increased their price objective on shares of STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. 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, Evercore ISI raised their price target on STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.13.

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.