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

STAG Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Monday, October 14th, Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.1233 per share by the real estate investment trust on Wednesday, January 15th. This represents a $1.48 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, December 31st.

STAG Industrial has raised its dividend payment by an average of 0.7% per year over the last three years and has increased its dividend every year for the last 6 years. STAG Industrial has a payout ratio of 114.7% meaning 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 $2.52 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 58.7%.

STAG Industrial Stock Performance

STAG opened at $37.36 on Tuesday. The firm has a market cap of $6.80 billion, a P/E ratio of 35.92 and a beta of 1.09. STAG Industrial has a 1-year low of $31.69 and a 1-year high of $41.63. The company has a 50 day simple moving average of $39.27 and a two-hundred day simple moving average of $37.41. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.60.

Insider Buying and Selling at STAG Industrial

In other STAG Industrial news, Director Benjamin S. Butcher sold 34,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $40.78, for a total transaction of $1,386,520.00. Following the transaction, the director now owns 8,758 shares in the company, valued at $357,151.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Evercore ISI upped their price target on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Wedbush boosted their target price on shares of STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Barclays boosted their target price on shares of STAG Industrial from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company boosted their target price on shares of STAG Industrial from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average 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.