Investment analysts at Wall Street Zen have upgraded Stag Industrial (NYSE: STAG) from a “sell” rating to a “hold” rating in a research note released to investors on December 22, 2023. This shift reflects a growing interest in the company, which specializes in single-tenant industrial properties across the United States.
Analyst Ratings and Price Targets
Several other equity analysts have also recently weighed in on Stag Industrial. iA Financial established a price target of $39.00 on December 13, 2023, while Weiss Ratings maintained a “buy (b)” rating on the company’s shares. The Royal Bank of Canada raised its price target from $38.00 to $42.00 and assigned a “sector perform” rating on November 6. In a similar vein, Citigroup increased its target from $35.00 to $40.00, issuing a “neutral” rating on November 11.
Meanwhile, Robert W. Baird lifted its price objective from $38.00 to $39.00 and also assigned a “neutral” rating on November 4. Currently, three analysts have rated Stag Industrial as a “buy,” five have given it a “hold” rating, and one has issued a “sell” rating. According to data from MarketBeat, the consensus rating for Stag Industrial stands at “hold” with an average price target of $39.33.
Institutional Investments in Stag Industrial
Recent trading activity indicates that institutional investors and hedge funds are actively adjusting their positions in Stag Industrial. State Street Corp increased its holdings by 1.5% during the second quarter, now owning 9,539,842 shares valued at approximately $347.3 million after acquiring an additional 142,132 shares.
Norges Bank also entered the fray, acquiring a new position in Stag Industrial valued at $282.9 million. Additionally, AllianceBernstein L.P. raised its stake by 4.3%, bringing its total to 3,950,923 shares worth about $143.3 million after purchasing an extra 162,887 shares.
CBRE Investment Management Listed Real Assets LLC increased its stake by 10.7% in the third quarter, now owning 3,911,540 shares valued at $138 million following the acquisition of 377,952 shares. Finally, Geode Capital Management LLC upped its position by 1.3%, owning 3,684,395 shares worth $133.7 million after acquiring an additional 46,713 shares.
Currently, approximately 88.67% of Stag Industrial’s stock is held by hedge funds and institutional investors, indicating robust confidence in the company’s long-term prospects.
Founded in 2010 and having gone public in 2011, Stag Industrial focuses on acquiring, owning, and operating properties tailored to the needs of a diverse tenant base. The company’s portfolio includes free-standing warehouses, distribution centers, and light manufacturing facilities, designed to provide stable rental income and attractive risk-adjusted returns for its shareholders.
With a disciplined investment strategy centered on high-quality, well-located assets, Stag Industrial continues to attract significant attention from analysts and investors alike.
