STAG Industrial, Inc. (NYSE:STAG) Sees Significant Decrease in Short Interest

STAG Industrial, Inc. (NYSE:STAG) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 4,900,000 shares, a drop of 17.4% from the November 30th total of 5,930,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is currently 4.6 days.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on STAG shares. Raymond James upped their price target on shares of STAG Industrial from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Barclays reduced their price objective on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, Wells Fargo & Company lowered 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 research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.00.

STAG Industrial Price Performance

Shares of STAG stock traded up $0.06 during mid-day trading on Tuesday, hitting $33.82. 1,277,138 shares of the stock traded hands, compared to its average volume of 1,078,960. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 34.16 and a beta of 1.07. The company’s 50-day simple moving average is $36.24 and its 200-day simple moving average is $37.71. STAG Industrial has a twelve month low of $33.18 and a twelve month high of $41.63.

STAG Industrial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.1233 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Tuesday, December 31st. STAG Industrial’s payout ratio is 149.49%.

Hedge Funds Weigh In On STAG Industrial

Several hedge funds have recently made changes to their positions in STAG. Allspring Global Investments Holdings LLC raised its position in shares of STAG Industrial by 18.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 229,251 shares of the real estate investment trust’s stock worth $8,267,000 after purchasing an additional 36,337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in STAG Industrial by 0.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,574 shares of the real estate investment trust’s stock worth $3,591,000 after buying an additional 814 shares during the period. International Assets Investment Management LLC purchased a new stake in STAG Industrial during the second quarter valued at about $107,000. Hantz Financial Services Inc. acquired a new position in shares of STAG Industrial in the second quarter worth about $295,000. Finally, IFG Advisory LLC purchased a new position in shares of STAG Industrial in the second quarter worth approximately $339,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.