James Investment Research Inc. Acquires 2,929 Shares of STAG Industrial, Inc. (NYSE:STAG)

James Investment Research Inc. grew its position in shares of STAG Industrial, Inc. (NYSE:STAG) by 48.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 8,968 shares of the real estate investment trust’s stock after acquiring an additional 2,929 shares during the quarter. James Investment Research Inc.’s holdings in STAG Industrial were worth $351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Shepherd Financial Partners LLC boosted its position in shares of STAG Industrial by 4.6% during the 3rd quarter. Shepherd Financial Partners LLC now owns 18,610 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 815 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of STAG Industrial by 1.2% during the 3rd quarter. New York State Common Retirement Fund now owns 937,342 shares of the real estate investment trust’s stock valued at $36,641,000 after acquiring an additional 10,746 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in shares of STAG Industrial by 6.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 10,215 shares of the real estate investment trust’s stock valued at $401,000 after acquiring an additional 650 shares during the last quarter. abrdn plc boosted its position in shares of STAG Industrial by 6.1% during the 3rd quarter. abrdn plc now owns 52,781 shares of the real estate investment trust’s stock valued at $2,063,000 after acquiring an additional 3,053 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of STAG Industrial by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 107,571 shares of the real estate investment trust’s stock valued at $4,204,000 after acquiring an additional 390 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

STAG Industrial Stock Performance

STAG stock opened at $36.87 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.42 and a debt-to-equity ratio of 0.87. The business’s fifty day simple moving average is $38.77 and its two-hundred day simple moving average is $37.44. STAG Industrial, Inc. has a twelve month low of $33.99 and a twelve month high of $41.63. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 37.24 and a beta of 1.09.

STAG Industrial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.1233 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 4.01%. STAG Industrial’s payout ratio is 149.49%.

Analysts Set New Price Targets

STAG has been the subject of a number of research reports. Evercore ISI increased their target price on STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Barclays lowered their price target on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company raised their price target on STAG Industrial from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Wedbush raised their price target on STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.50.

STAG Industrial Profile

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.