Kovack Advisors Inc. Has $344,000 Position in STAG Industrial, Inc. (NYSE:STAG)

Kovack Advisors Inc. cut its stake in STAG Industrial, Inc. (NYSE:STAG) by 13.0% in the third quarter, HoldingsChannel.com reports. The fund owned 8,795 shares of the real estate investment trust’s stock after selling 1,309 shares during the period. Kovack Advisors Inc.’s holdings in STAG Industrial were worth $344,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Centerpoint Advisors LLC bought a new position in STAG Industrial during the second quarter worth about $25,000. UMB Bank n.a. lifted its holdings in shares of STAG Industrial by 54.1% during the 3rd quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 306 shares in the last quarter. GAMMA Investing LLC grew its position in shares of STAG Industrial by 56.1% in the 2nd quarter. GAMMA Investing LLC now owns 907 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 326 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of STAG Industrial during the second quarter worth $38,000. Finally, Covestor Ltd increased its position in shares of STAG Industrial by 237.6% during the 1st quarter. Covestor Ltd now owns 1,148 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 808 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on STAG shares. Evercore ISI raised their target price on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Wells Fargo & Company lowered their price objective on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Wedbush upped their target price on STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Barclays dropped their price target on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, STAG Industrial currently has an average rating of “Hold” and a consensus price target of $41.13.

STAG Industrial Price Performance

STAG stock opened at $36.22 on Friday. 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’s 50-day moving average is $38.14 and its 200-day moving average is $37.59. The stock has a market capitalization of $6.60 billion, a PE ratio of 36.58 and a beta of 1.09. STAG Industrial, Inc. has a 1 year low of $34.09 and a 1 year high of $41.63.

STAG Industrial Dividend Announcement

The company 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 4.09%. STAG Industrial’s payout ratio is currently 149.49%.

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.