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

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

STAG Industrial has raised its dividend payment by an average of 0.7% per year 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. Equities 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 NYSE:STAG 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 P/E/G ratio of 4.09 and a beta of 1.09. The firm has a fifty day moving average price of $39.81 and a 200 day moving average price of $37.41. STAG Industrial has a fifty-two week low of $31.69 and a fifty-two week high of $41.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.60 and a current ratio of 1.60.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Evercore ISI raised their price objective on STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. BNP Paribas started coverage on STAG Industrial in a report on Tuesday, June 4th. They set a “neutral” rating and a $39.00 price target for the company. Barclays upped their price objective on STAG Industrial from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Wedbush raised their target price on shares of STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company upped their price target on shares of STAG Industrial from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Six investment 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, STAG Industrial has a consensus rating of “Hold” and an average price target of $41.22.

Insider Buying and Selling

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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by corporate 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.