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

STAG Industrial, Inc. (NYSE:STAG - Get Free Report) announced a monthly dividend on Friday, April 12th, Wall Street Journal reports. Investors of record on Friday, June 28th will be paid a dividend of 0.1233 per share by the real estate investment trust on Monday, July 15th. This represents a $1.48 annualized dividend and a yield of 3.99%. The ex-dividend date is Friday, June 28th.

STAG Industrial has increased its dividend payment by an average of 0.7% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. STAG Industrial has a payout ratio of 166.3% 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 $2.49 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 59.4%.

STAG Industrial Stock Down 0.8 %

STAG stock traded down $0.30 during trading on Friday, hitting $37.10. 566,868 shares of the stock traded hands, compared to its average volume of 1,126,525. STAG Industrial has a 1 year low of $31.69 and a 1 year high of $39.61. The firm's 50 day moving average is $37.74 and its two-hundred day moving average is $36.74. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 5.24 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.79.

Wall Street Analyst Weigh In

STAG has been the topic of several recent analyst reports. Robert W. Baird reissued a "neutral" rating and set a $41.00 price objective (up from $38.00) on shares of STAG Industrial in a research report on Friday, January 5th. Barclays initiated coverage on shares of STAG Industrial in a report on Wednesday, March 27th. They set an "equal weight" rating and a $40.00 price target on the stock. BMO Capital Markets reaffirmed an "outperform" rating and set a $42.00 price target (up previously from $41.00) on shares of STAG Industrial in a report on Monday. Finally, Royal Bank of Canada raised their price target on shares of STAG Industrial from $39.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, February 16th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $39.13.

Hedge Funds Weigh In On STAG Industrial

Several institutional investors have recently made changes to their positions in the business. Cim Investment Management Inc. lifted its stake in shares of STAG Industrial by 3.6% in the 1st quarter. Cim Investment Management Inc. now owns 10,026 shares of the real estate investment trust's stock worth $339,000 after purchasing an additional 345 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of STAG Industrial by 3.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 10,236 shares of the real estate investment trust's stock worth $292,000 after purchasing an additional 373 shares during the period. Advisory Services Network LLC raised its stake in STAG Industrial by 2.4% during the 1st quarter. Advisory Services Network LLC now owns 15,956 shares of the real estate investment trust's stock worth $540,000 after acquiring an additional 378 shares during the period. Pathstone Family Office LLC raised its stake in STAG Industrial by 3.1% during the 3rd quarter. Pathstone Family Office LLC now owns 13,175 shares of the real estate investment trust's stock worth $376,000 after acquiring an additional 393 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in STAG Industrial by 4.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,429 shares of the real estate investment trust's stock worth $370,000 after acquiring an additional 408 shares during the period. Institutional investors own 88.67% of the company's stock.

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.