STAG Industrial, Inc. (NYSE:STAG) Declares Dividend Increase – $0.12 Per Share

STAG Industrial, Inc. (NYSE:STAG) declared a monthly dividend on Monday, January 13th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.1242 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Monday, March 31st. This is a 0.7% increase from STAG Industrial’s previous monthly dividend of $0.12.

STAG Industrial has raised its dividend payment by an average of 0.7% per year over the last three years. STAG Industrial has a payout ratio of 147.5% 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 $2.63 per share next year, which means the company should continue to be able to cover its $1.49 annual dividend with an expected future payout ratio of 56.7%.

STAG Industrial Stock Performance

NYSE STAG opened at $35.58 on Friday. The company has a market capitalization of $6.64 billion, a P/E ratio of 34.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 1.36. STAG Industrial has a 52-week low of $32.27 and a 52-week high of $41.63. The company has a fifty day moving average of $35.17 and a 200-day moving average of $36.10.

STAG Industrial (NYSE:STAG) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.43. STAG Industrial had a return on equity of 5.51% and a net margin of 24.64%. As a group, equities research analysts predict that STAG Industrial will post 2.47 EPS for the current fiscal year.

Insider Transactions at STAG Industrial

In related news, Director Benjamin S. Butcher sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $35.10, for a total transaction of $1,755,000.00. Following the transaction, the director now owns 9,632 shares in the company, valued at $338,083.20. The trade was a 83.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays reduced their price target on shares of STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Royal Bank of Canada reduced their target price on shares of STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating on the stock in a report on Monday, January 27th. Finally, Raymond James boosted their price target on shares of STAG Industrial from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.38.

About STAG Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.