JPMorgan Chase & Co. Trims Stock Position in STAG Industrial, Inc. (NYSE:STAG)

JPMorgan Chase & Co. cut its stake in shares of STAG Industrial, Inc. (NYSE:STAG) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 752,570 shares of the real estate investment trust’s stock after selling 8,606 shares during the quarter. JPMorgan Chase & Co.’s holdings in STAG Industrial were worth $29,418,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. grew its holdings in STAG Industrial by 54.1% in the third quarter. UMB Bank n.a. now owns 872 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 306 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in STAG Industrial in the second quarter worth $38,000. Coastline Trust Co purchased a new position in STAG Industrial in the third quarter worth $55,000. GAMMA Investing LLC grew its holdings in STAG Industrial by 72.7% in the third quarter. GAMMA Investing LLC now owns 1,566 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 659 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in STAG Industrial in the second quarter worth $57,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

STAG Industrial Stock Performance

NYSE:STAG opened at $33.14 on Wednesday. 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 firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 33.47 and a beta of 1.09. The company’s 50-day moving average is $35.74 and its two-hundred day moving average is $37.62. STAG Industrial, Inc. has a 1-year low of $32.79 and a 1-year high of $41.63.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Barclays lowered their price objective on shares of 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. Raymond James lifted their price objective 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. Finally, Wells Fargo & Company lowered their price objective 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. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.00.

STAG Industrial Company Profile

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.