STAG Industrial, Inc. (NYSE:STAG) Declares $0.12 Monthly Dividend

STAG Industrial, Inc. (NYSE:STAG) declared a monthly dividend on Wednesday, July 10th, Wall Street Journal reports. Investors of record on Monday, September 30th will be paid a dividend of 0.1233 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.48 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Monday, September 30th.

STAG Industrial has increased its dividend payment by an average of 0.7% annually over the last three years. STAG Industrial has a dividend payout ratio of 114.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Up 0.5 %

STAG Industrial stock opened at $39.24 on Friday. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 4.09 and a beta of 1.09. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.82. STAG Industrial has a 12 month low of $31.69 and a 12 month high of $41.63. The stock has a fifty day simple moving average of $39.81 and a two-hundred day simple moving average of $37.41.

Insider Transactions at STAG Industrial

In related news, Director Benjamin S. Butcher sold 34,000 shares of STAG Industrial stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $40.78, for a total transaction of $1,386,520.00. Following the transaction, the director now directly owns 8,758 shares in the company, valued at $357,151.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on STAG. Wells Fargo & Company boosted their target price on STAG Industrial from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Wedbush increased their price objective on shares of STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Barclays lifted their target price on shares of STAG Industrial from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Evercore ISI increased their price target on STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Finally, BNP Paribas assumed coverage on STAG Industrial in a report on Tuesday, June 4th. They issued a “neutral” rating and a $39.00 price objective for the company. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.22.

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.