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

STAG Industrial (NYSE:STAG) had its price target lifted by Wells Fargo & Company from $37.00 to $40.00 in a research note published on Monday, PriceTargets.com reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

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

Shares of STAG stock opened at $38.66 on Monday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.68. STAG Industrial has a 52-week low of $26.44 and a 52-week high of $38.79. The stock has a market capitalization of $6.17 billion, a P/E ratio of 37.53, a PEG ratio of 5.09 and a beta of 0.89. The stock has a fifty day simple moving average of $35.91.

STAG Industrial (NYSE:STAG) last released its earnings results on Tuesday, May 4th. The real estate investment trust reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.35). The firm had revenue of $134.00 million during 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 firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. Sell-side analysts predict that STAG Industrial will post 1.99 earnings per share for the current fiscal year.

The business also recently disclosed 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 annualized dividend and a yield of 3.75%. STAG Industrial’s dividend payout ratio (DPR) is presently 76.72%.

A number of institutional investors and hedge funds have recently modified their holdings of STAG. Norges Bank purchased a new stake in STAG Industrial in the fourth quarter worth about $57,591,000. Waterfront Capital Partners LLC lifted its holdings in shares of STAG Industrial by 182.4% during the fourth quarter. Waterfront Capital Partners LLC now owns 1,756,248 shares of the real estate investment trust’s stock valued at $55,006,000 after purchasing an additional 1,134,383 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of STAG Industrial by 5.9% during the fourth quarter. BlackRock Inc. now owns 16,399,214 shares of the real estate investment trust’s stock valued at $513,622,000 after purchasing an additional 912,314 shares during the last quarter. Scout Investments Inc. lifted its holdings in shares of STAG Industrial by 58.2% during the first quarter. Scout Investments Inc. now owns 2,150,231 shares of the real estate investment trust’s stock valued at $72,269,000 after purchasing an additional 790,910 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of STAG Industrial by 31.7% during the fourth quarter. Federated Hermes Inc. now owns 2,164,452 shares of the real estate investment trust’s stock valued at $67,790,000 after purchasing an additional 521,360 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

STAG Industrial Company Profile

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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