Stag Industrial (NYSE:STAG) was upgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a report released on Friday, MarketBeat Ratings reports. The firm currently has a $30.00 price target on the real estate investment trust’s stock. J P Morgan Chase & Co’s target price would indicate a potential upside of 7.18% from the stock’s previous close.
Several other research analysts have also recently weighed in on the stock. Jefferies Group reissued a “buy” rating and issued a $32.00 price target (up from $31.00) on shares of Stag Industrial in a report on Tuesday, August 22nd. TheStreet raised shares of Stag Industrial from a “c” rating to a “b-” rating in a report on Tuesday, November 14th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Stag Industrial in a report on Friday, November 3rd. BidaskClub raised shares of Stag Industrial from a “strong sell” rating to a “sell” rating in a report on Saturday, November 4th. Finally, UBS raised shares of Stag Industrial from a “sell” rating to a “neutral” rating and increased their price target for the company from $21.00 to $28.00 in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $28.50.
Shares of Stag Industrial (STAG) traded down $0.03 during mid-day trading on Friday, hitting $27.99. 389,900 shares of the stock were exchanged, compared to its average volume of 687,249. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market cap of $2,636.19, a PE ratio of 16.78, a price-to-earnings-growth ratio of 3.09 and a beta of 1.25. Stag Industrial has a 12 month low of $22.64 and a 12 month high of $28.95.
Large investors have recently made changes to their positions in the business. Prudential Financial Inc. boosted its position in shares of Stag Industrial by 4,447.1% during the 2nd quarter. Prudential Financial Inc. now owns 1,508,779 shares of the real estate investment trust’s stock worth $41,643,000 after acquiring an additional 1,475,598 shares in the last quarter. Oak Ridge Investments LLC acquired a new stake in shares of Stag Industrial during the 2nd quarter worth approximately $37,394,000. Vanguard Group Inc. boosted its position in shares of Stag Industrial by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 13,381,991 shares of the real estate investment trust’s stock worth $369,344,000 after acquiring an additional 691,105 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Stag Industrial by 15.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,950,893 shares of the real estate investment trust’s stock worth $136,644,000 after acquiring an additional 646,968 shares in the last quarter. Finally, Citadel Advisors LLC boosted its position in shares of Stag Industrial by 515.0% during the 2nd quarter. Citadel Advisors LLC now owns 431,767 shares of the real estate investment trust’s stock worth $11,917,000 after acquiring an additional 361,556 shares in the last quarter. Hedge funds and other institutional investors own 82.08% of the company’s stock.
About Stag Industrial
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
