Wolverine Asset Management LLC Takes $1.68 Million Position in STAG Industrial, Inc. (NYSE:STAG)

Wolverine Asset Management LLC purchased a new stake in shares of STAG Industrial, Inc. (NYSE:STAG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 42,714 shares of the real estate investment trust’s stock, valued at approximately $1,677,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CWM LLC grew its stake in STAG Industrial by 17.6% during the 4th quarter. CWM LLC now owns 2,438 shares of the real estate investment trust’s stock valued at $96,000 after acquiring an additional 365 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in STAG Industrial by 15.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,675 shares of the real estate investment trust’s stock valued at $1,675,000 after purchasing an additional 5,605 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of STAG Industrial during the 4th quarter valued at $4,843,000. Verdence Capital Advisors LLC grew its holdings in shares of STAG Industrial by 3.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,670 shares of the real estate investment trust’s stock valued at $340,000 after acquiring an additional 301 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. grew its holdings in shares of STAG Industrial by 10.3% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 23,046 shares of the real estate investment trust’s stock valued at $905,000 after acquiring an additional 2,160 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

STAG Industrial Stock Down 1.9 %

Shares of NYSE:STAG opened at $34.74 on Thursday. The company has a market capitalization of $6.32 billion, a PE ratio of 32.17, a P/E/G ratio of 5.00 and a beta of 1.02. STAG Industrial, Inc. has a 52 week low of $31.69 and a 52 week high of $39.61. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.79 and a current ratio of 1.79. The company’s fifty day moving average is $37.45 and its 200-day moving average is $36.84.

STAG Industrial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.1233 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Friday, June 28th. STAG Industrial’s dividend payout ratio is currently 137.04%.

Analyst Ratings Changes

A number of research firms have issued reports on STAG. Robert W. Baird reiterated a “neutral” rating and issued a $41.00 target price (up from $38.00) on shares of STAG Industrial in a research note on Friday, January 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $42.00 price objective (up from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. Royal Bank of Canada raised their target price on shares of STAG Industrial from $39.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Finally, Barclays began coverage on STAG Industrial in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $39.13.

About STAG Industrial

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.