B. Riley Wealth Advisors Inc. Sells 1,112 Shares of STAG Industrial, Inc. (NYSE:STAG)

Posted by Defense World Staff on Oct 22nd, 2023

B. Riley Wealth Advisors Inc. decreased its stake in STAG Industrial, Inc. (NYSE:STAG – Free Report) by 10.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,855 shares of the real estate investment trust’s stock after selling 1,112 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in STAG Industrial were worth $355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State of Michigan Retirement System bought a new position in STAG Industrial in the 2nd quarter valued at approximately $1,586,000. Oregon Public Employees Retirement Fund acquired a new position in STAG Industrial in the 2nd quarter valued at approximately $1,860,000. DekaBank Deutsche Girozentrale increased its position in STAG Industrial by 70.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 77,129 shares of the real estate investment trust’s stock valued at $2,727,000 after acquiring an additional 31,766 shares during the period. State of Alaska Department of Revenue increased its position in STAG Industrial by 14.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 106,991 shares of the real estate investment trust’s stock valued at $3,837,000 after acquiring an additional 13,555 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in STAG Industrial by 20.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 324,783 shares of the real estate investment trust’s stock valued at $11,653,000 after acquiring an additional 55,584 shares during the period. Institutional investors own 88.68% of the company’s stock.

Insiders Place Their Bets

In other STAG Industrial news, Director Benjamin S. Butcher sold 3,150 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $36.45, for a total value of $114,817.50. Following the completion of the sale, the director now directly owns 38,938 shares in the company, valued at $1,419,290.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other STAG Industrial news, Director Benjamin S. Butcher sold 3,150 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $36.45, for a total value of $114,817.50. Following the transaction, the director now directly owns 38,938 shares of the company’s stock, valued at $1,419,290.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin S. Butcher sold 30,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $36.47, for a total transaction of $1,094,100.00. Following the completion of the transaction, the director now directly owns 7,088 shares in the company, valued at $258,499.36. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

STAG has been the subject of several recent research reports. Raymond James upped their price target on shares of STAG Industrial from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of STAG Industrial in a research report on Thursday, August 17th. Wells Fargo & Company upped their price target on shares of STAG Industrial from $33.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. StockNews.com assumed coverage on shares of STAG Industrial in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Citigroup increased their price objective on shares of STAG Industrial from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, August 11th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, STAG Industrial presently has an average rating of “Hold” and a consensus price target of $38.71.

View Our Latest Analysis on STAG Industrial

STAG Industrial Trading Down 1.0 %

NYSE:STAG opened at $32.58 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 4.65 and a beta of 1.00. The firm has a fifty day simple moving average of $35.34 and a two-hundred day simple moving average of $35.33. STAG Industrial, Inc. has a 12 month low of $27.62 and a 12 month high of $38.83.

STAG Industrial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $0.1225 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Thursday, December 28th. STAG Industrial’s payout ratio is 134.86%.

STAG Industrial Profile

(Free Report)

We are a REIT focused on the acquisition, ownership and operation of industrial properties throughout the United States. We seek to (i) identify properties for acquisition that offer relative value across all locations, industrial property types, and tenants through the principled application of our proprietary risk assessment model, (ii) operate our properties in an efficient, cost-effective manner, and (iii) capitalize our business appropriately given the characteristics of our assets.