Peapack Gladstone Financial Corp Trims Position in STAG Industrial, Inc. (NYSE:STAG)

Peapack Gladstone Financial Corp reduced its stake in shares of STAG Industrial, Inc. (NYSE:STAG) by 2.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 60,813 shares of the real estate investment trust’s stock after selling 1,297 shares during the period. Peapack Gladstone Financial Corp’s holdings in STAG Industrial were worth $2,378,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its stake in shares of STAG Industrial by 122.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 21,583 shares of the real estate investment trust’s stock worth $787,000 after acquiring an additional 11,859 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of STAG Industrial by 4.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 54,517 shares of the real estate investment trust’s stock worth $2,131,000 after purchasing an additional 2,306 shares in the last quarter. Geode Capital Management LLC increased its position in STAG Industrial by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,403,540 shares of the real estate investment trust’s stock valued at $133,077,000 after buying an additional 21,925 shares in the last quarter. Guardian Wealth Management Inc. raised its position in shares of STAG Industrial by 2.1% in the 3rd quarter. Guardian Wealth Management Inc. now owns 46,446 shares of the real estate investment trust’s stock worth $1,816,000 after purchasing an additional 965 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of STAG Industrial by 1.2% in the third quarter. Public Employees Retirement System of Ohio now owns 331,990 shares of the real estate investment trust’s stock worth $12,977,000 after buying an additional 3,944 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

STAG Industrial Stock Up 0.8 %

Shares of NYSE STAG opened at $35.93 on Friday. STAG Industrial, Inc. has a 1 year low of $34.09 and a 1 year high of $41.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $6.55 billion, a P/E ratio of 36.29 and a beta of 1.07. The firm has a 50-day simple moving average of $37.01 and a two-hundred day simple moving average of $37.74.

STAG Industrial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.1233 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 4.12%. STAG Industrial’s dividend payout ratio (DPR) is 149.49%.

Analyst Upgrades and Downgrades

A number of research firms have commented on STAG. Evercore ISI lifted their target price on STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Raymond James raised their price objective on shares of STAG Industrial from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company reduced their target price 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. Finally, Barclays cut their price target on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.00.

STAG Industrial Company 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.