STAG Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Thursday, January 14th, Wall Street Journal reports. Investors of record on Wednesday, March 31st will be given a dividend of 0.1208 per share by the real estate investment trust on Thursday, April 15th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date is Tuesday, March 30th.
STAG Industrial has raised its dividend payment by 2.5% over the last three years and has increased its dividend annually for the last 7 consecutive years. STAG Industrial has a dividend payout ratio of 381.6% indicating that 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 $1.91 per share next year, which means the company should continue to be able to cover its $1.45 annual dividend with an expected future payout ratio of 75.9%.
Shares of STAG traded down $0.13 on Thursday, reaching $30.40. The company's stock had a trading volume of 605,987 shares, compared to its average volume of 975,332. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.66. STAG Industrial has a twelve month low of $17.54 and a twelve month high of $34.50. The stock has a market capitalization of $4.54 billion, a PE ratio of 41.95, a PEG ratio of 5.27 and a beta of 1.12. The firm has a fifty day moving average of $30.49 and a 200-day moving average of $31.26.
STAG Industrial (NYSE:STAG) last issued its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.46 by ($0.31). STAG Industrial had a return on equity of 4.97% and a net margin of 24.61%. The firm had revenue of $117.30 million during the quarter, compared to the consensus estimate of $117.10 million. During the same period in the previous year, the company posted $0.46 earnings per share. The company's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts anticipate that STAG Industrial will post 1.86 EPS for the current fiscal year.
STAG has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of STAG Industrial from a "buy" rating to a "hold" rating in a report on Tuesday. Robert W. Baird cut shares of STAG Industrial from an "outperform" rating to a "neutral" rating and set a $35.00 target price for the company. in a report on Tuesday, September 22nd. Bank of America lifted their target price on shares of STAG Industrial from $28.00 to $30.00 and gave the stock an "underperform" rating in a report on Monday, November 16th. Finally, JPMorgan Chase & Co. cut shares of STAG Industrial from an "overweight" rating to a "neutral" rating and set a $33.00 target price for the company. in a report on Monday, December 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of "Hold" and an average target price of $33.80.
In other STAG Industrial news, CEO Benjamin S. Butcher sold 23,268 shares of the company's stock in a transaction on Thursday, January 7th. The stock was sold at an average price of $30.04, for a total value of $698,970.72. Following the sale, the chief executive officer now owns 47,088 shares of the company's stock, valued at $1,414,523.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen C. Mecke sold 50,000 shares of the stock in a transaction on Thursday, January 7th. The shares were sold at an average price of $29.90, for a total value of $1,495,000.00. Following the sale, the chief operating officer now directly owns 52,000 shares in the company, valued at approximately $1,554,800. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.
STAG Industrial Company Profile
STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.
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