STAG Industrial, Inc. (NYSE:STAG) Raises Dividend to $0.12 Per Share

STAG Industrial, Inc. (NYSE:STAG) announced a dividend on Friday, February 21st, investing.com reports. Shareholders of record on Monday, March 3rd will be given a dividend of 0.1242 per share by the real estate investment trust on Monday, March 17th. This represents a yield of 4.25%. The ex-dividend date is Friday, February 28th. This is a boost from STAG Industrial’s previous dividend of $0.12.

STAG Industrial has raised its dividend by an average of 0.7% annually over the last three years. STAG Industrial has a payout ratio of 158.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

NYSE:STAG opened at $35.17 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.86. The stock’s 50 day moving average price is $34.22 and its two-hundred day moving average price is $36.82. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 33.81 and a beta of 1.09. STAG Industrial has a 12-month low of $32.27 and a 12-month high of $41.63.

STAG Industrial (NYSE:STAG) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share 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%. On average, analysts anticipate that STAG Industrial will post 2.47 earnings per share for the current year.

Insider Buying and Selling

In other STAG Industrial news, Director Benjamin S. Butcher sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $35.10, for a total transaction of $1,755,000.00. Following the completion of the sale, the director now directly owns 9,632 shares in the company, valued at $338,083.20. This represents a 83.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

STAG has been the topic of several recent research reports. Barclays cut their price objective on STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Raymond James raised their target price on STAG Industrial from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lowered their price objective on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Finally, Royal Bank of Canada decreased their target price on STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating for the company in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, STAG Industrial has an average rating of “Moderate Buy” and a consensus 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.