Royal Bank of Canada Cuts STAG Industrial (NYSE:STAG) Price Target to $38.00

STAG Industrial (NYSE:STAG) had its target price cut by Royal Bank of Canada from $40.00 to $38.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company cut their price objective on shares of STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Raymond James lifted their price target on STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Barclays dropped their price objective on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.38.

STAG Industrial Price Performance

NYSE STAG opened at $33.91 on Monday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.87. The company has a market cap of $6.18 billion, a PE ratio of 34.26 and a beta of 1.09. STAG Industrial has a 52 week low of $32.27 and a 52 week high of $41.63. The firm’s 50-day simple moving average is $34.77 and its two-hundred day simple moving average is $37.38.

STAG Industrial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.1242 per share. This represents a $1.49 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Monday, March 31st. STAG Industrial’s payout ratio is 149.49%.

Institutional Trading of STAG Industrial

A number of hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. grew its position in STAG Industrial by 54.1% during the third quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 306 shares during the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of STAG Industrial during the 4th quarter valued at $43,000. Coastline Trust Co purchased a new position in STAG Industrial in the 3rd quarter worth $55,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in STAG Industrial in the second quarter worth $57,000. Finally, GAMMA Investing LLC boosted its position in STAG Industrial by 72.7% during the third quarter. GAMMA Investing LLC now owns 1,566 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 659 shares during the period. 88.67% of the stock is owned by institutional investors.

STAG Industrial Company Profile

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.