Doheny Asset Management CA Acquires 21,159 Shares of STAG Industrial, Inc. (NYSE:STAG)

Doheny Asset Management CA grew its holdings in shares of STAG Industrial, Inc. (NYSE:STAG) by 34.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,475 shares of the real estate investment trust’s stock after buying an additional 21,159 shares during the period. STAG Industrial accounts for approximately 2.3% of Doheny Asset Management CA’s holdings, making the stock its 13th biggest position. Doheny Asset Management CA’s holdings in STAG Industrial were worth $3,010,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in STAG Industrial by 3.7% in the 4th quarter. Principal Financial Group Inc. now owns 748,765 shares of the real estate investment trust’s stock worth $29,397,000 after purchasing an additional 26,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in STAG Industrial in the 1st quarter worth about $3,222,000. Centersquare Investment Management LLC boosted its stake in STAG Industrial by 24.9% in the 1st quarter. Centersquare Investment Management LLC now owns 129,800 shares of the real estate investment trust’s stock worth $4,990,000 after purchasing an additional 25,844 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in STAG Industrial by 22.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,248,373 shares of the real estate investment trust’s stock valued at $206,051,000 after acquiring an additional 961,420 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of STAG Industrial by 12.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 967,485 shares of the real estate investment trust’s stock valued at $37,190,000 after acquiring an additional 106,217 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

STAG Industrial Trading Up 1.0 %

Shares of STAG Industrial stock opened at $39.54 on Tuesday. The company has a market capitalization of $7.20 billion, a P/E ratio of 39.54, a P/E/G ratio of 4.05 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.60 and a current ratio of 1.60. The company has a fifty day moving average of $39.14 and a 200 day moving average of $37.22. STAG Industrial, Inc. has a fifty-two week low of $31.69 and a fifty-two week high of $41.63.

STAG Industrial Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.1233 dividend. The ex-dividend date was Wednesday, July 31st. This represents a yield of 3.63%. This is an increase from STAG Industrial’s previous dividend of $0.12. STAG Industrial’s dividend payout ratio is currently 148.00%.

Analyst Upgrades and Downgrades

STAG has been the subject of several research reports. Wedbush boosted their price objective on shares of STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company boosted their target price on shares of STAG Industrial from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. BNP Paribas began coverage on STAG Industrial in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $39.00 price target on the stock. Barclays upped their price objective on STAG Industrial from $38.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Evercore ISI raised their target price on STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.22.

Insider Buying and Selling

In other STAG Industrial news, Director Benjamin S. Butcher sold 34,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $40.78, for a total transaction of $1,386,520.00. Following the completion of the transaction, the director now owns 8,758 shares of the company’s stock, valued at approximately $357,151.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

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.