STAG Industrial, Inc. (NYSE:STAG) Raises Dividend to $0.12 Per Share

STAG Industrial, Inc. (NYSE:STAG) declared a monthly dividend on Wednesday, July 10th, NASDAQ reports. Shareholders of record on Wednesday, July 31st will be paid a dividend of 0.1233 per share by the real estate investment trust on Thursday, August 15th. This represents a $1.48 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Wednesday, July 31st. This is a boost from STAG Industrial’s previous monthly dividend of $0.12.

STAG Industrial has increased its dividend by an average of 0.7% per year over the last three years. STAG Industrial has a dividend payout ratio of 155.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect STAG Industrial to earn $2.51 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 59.0%.

STAG Industrial Price Performance

Shares of STAG stock opened at $40.41 on Tuesday. The company’s 50-day simple moving average is $36.33 and its two-hundred day simple moving average is $36.81. STAG Industrial has a one year low of $31.69 and a one year high of $40.68. The company has a market capitalization of $7.36 billion, a P/E ratio of 40.41, a P/E/G ratio of 5.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.75 and a quick ratio of 1.75.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays lowered their price target on shares of STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. BNP Paribas assumed coverage on shares of STAG Industrial in a research report on Tuesday, June 4th. They issued a “neutral” rating and a $39.00 price target for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $42.00 price target (up previously from $41.00) on shares of STAG Industrial in a research report on Monday, April 8th. Finally, Wedbush raised shares of STAG Industrial from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $38.00 to $44.00 in a research report on Monday, July 22nd. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, STAG Industrial currently has a consensus rating of “Hold” and a consensus target price of $39.50.

Insider Activity at STAG Industrial

In related news, Director Benjamin S. Butcher sold 30,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $34.81, for a total transaction of $1,044,300.00. Following the sale, the director now owns 8,304 shares in the company, valued at $289,062.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

About STAG Industrial

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.