Verition Fund Management LLC Takes $720,000 Position in STAG Industrial, Inc. (NYSE:STAG)

Verition Fund Management LLC bought a new stake in shares of STAG Industrial, Inc. (NYSE:STAGGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,414 shares of the real estate investment trust’s stock, valued at approximately $720,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in STAG Industrial in the 1st quarter worth approximately $35,000. Prospera Financial Services Inc bought a new position in STAG Industrial in the 1st quarter worth approximately $40,000. Godsey & Gibb Associates bought a new position in STAG Industrial in the 1st quarter worth approximately $60,000. Baystate Wealth Management LLC boosted its holdings in STAG Industrial by 17.5% in the 1st quarter. Baystate Wealth Management LLC now owns 1,752 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 261 shares during the period. Finally, Huntington National Bank boosted its holdings in STAG Industrial by 20.0% in the 1st quarter. Huntington National Bank now owns 1,976 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 329 shares during the period. 84.13% of the stock is owned by institutional investors.

STAG Industrial Stock Performance

NYSE STAG opened at $29.74 on Friday. STAG Industrial, Inc. has a 1 year low of $29.43 and a 1 year high of $48.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $5.33 billion, a PE ratio of 23.23, a P/E/G ratio of 2.84 and a beta of 0.98. The company’s 50 day simple moving average is $31.98 and its two-hundred day simple moving average is $34.56.

STAG Industrial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.1217 per share. This represents a $1.46 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Thursday, September 29th. STAG Industrial’s dividend payout ratio (DPR) is currently 114.06%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company cut their price objective on shares of STAG Industrial from $43.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, August 11th. Jefferies Financial Group lowered their target price on shares of STAG Industrial from $47.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.25.

STAG Industrial Profile

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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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Institutional Ownership by Quarter for STAG Industrial (NYSE:STAG)

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