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

STAG Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Wednesday, October 9th, Zacks reports. Investors of record on Thursday, October 31st will be given a dividend of 0.123 per share by the real estate investment trust on Friday, November 15th. This represents a $1.48 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, October 31st.

STAG Industrial has increased its dividend by an average of 0.7% per year over the last three years and has raised its dividend every year for the last 6 years. STAG Industrial has a dividend 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. 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 Down 0.2 %

Shares of STAG Industrial stock opened at $36.75 on Friday. The company has a market cap of $6.69 billion, a P/E ratio of 35.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.60 and a current ratio of 1.60. STAG Industrial has a one year low of $31.69 and a one year high of $41.63. The firm has a fifty day moving average of $39.36 and a two-hundred day moving average of $37.43.

Insider Transactions at STAG Industrial

In other news, Director Benjamin S. Butcher sold 34,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 8,758 shares of the company’s stock, valued at approximately $357,151.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on STAG. Evercore ISI raised their price target on shares of STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Wedbush increased their price objective 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 raised their price target on shares of STAG Industrial from $38.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company raised their price target on shares of STAG Industrial from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.22.

STAG Industrial Company Profile

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.