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

Stag Industrial, Inc. (NYSE:STAG - Get Free Report) declared a monthly dividend on Friday, July 11th, Wall Street Journal reports. Shareholders of record on Tuesday, September 30th will be given a dividend of 0.1242 per share by the real estate investment trust on Wednesday, October 15th. This represents a $1.49 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Tuesday, September 30th.

Stag Industrial has a payout ratio of 146.1% meaning 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

STAG traded up $0.18 on Friday, reaching $36.12. The stock had a trading volume of 1,668,281 shares, compared to its average volume of 1,287,176. Stag Industrial has a 12-month low of $28.61 and a 12-month high of $41.63. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.86. The business's 50-day moving average price is $35.76 and its two-hundred day moving average price is $34.74. The company has a market cap of $6.74 billion, a P/E ratio of 27.16 and a beta of 0.93.

Stag Industrial (NYSE:STAG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. Stag Industrial had a net margin of 31.05% and a return on equity of 7.04%. The company had revenue of $205.57 million during the quarter, compared to analysts' expectations of $202.04 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts forecast that Stag Industrial will post 2.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Benjamin S. Butcher sold 28,843 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $36.90, for a total transaction of $1,064,306.70. Following the transaction, the director directly owned 7,115 shares in the company, valued at approximately $262,543.50. The trade was a 80.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Stag Industrial

Institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in Stag Industrial by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,671,949 shares of the real estate investment trust's stock valued at $60,391,000 after purchasing an additional 451,355 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Stag Industrial by 17.6% in the 1st quarter. NewEdge Advisors LLC now owns 9,952 shares of the real estate investment trust's stock valued at $359,000 after purchasing an additional 1,491 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Stag Industrial in the 1st quarter valued at about $229,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STAG has been the subject of a number of research reports. Raymond James Financial boosted their target price on shares of Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada reissued a "sector perform" rating and set a $38.00 target price on shares of Stag Industrial in a research note on Monday, May 19th. Finally, Robert W. Baird lowered their price target on shares of Stag Industrial from $39.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Stag Industrial currently has an average rating of "Hold" and a consensus price target of $39.71.

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.