Stag Industrial, Inc. (NYSE:STAG - Get Free Report) declared a monthly dividend on Monday, July 14th, Wall Street Journal reports. Stockholders of record on Tuesday, September 30th will be paid 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 dividend yield of 4.22%. The ex-dividend date of this dividend is Tuesday, September 30th.
Stag Industrial has a dividend 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. Equities research 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
Shares of STAG traded down $0.55 during mid-day trading on Thursday, reaching $35.32. The company had a trading volume of 1,824,418 shares, compared to its average volume of 1,283,565. Stag Industrial has a 52-week low of $28.61 and a 52-week high of $41.63. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $6.59 billion, a P/E ratio of 26.56 and a beta of 0.93. The stock has a 50 day moving average of $35.93 and a two-hundred day moving average of $34.79.
Stag Industrial (NYSE:STAG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. Stag Industrial had a return on equity of 7.04% and a net margin of 31.05%. The firm had revenue of $205.57 million for the quarter, compared to the consensus estimate of $202.04 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company's revenue was up 9.7% compared to the same quarter last year. On average, analysts expect that Stag Industrial will post 2.47 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on STAG. Royal Bank Of Canada restated a "sector perform" rating and issued a $38.00 target price on shares of Stag Industrial in a research note on Monday, May 19th. Raymond James Financial upped their target price on Stag Industrial from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird lowered their price target on 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $39.71.
Check Out Our Latest Research Report on STAG
Insider Buying and Selling at Stag Industrial
In other news, Director Benjamin S. Butcher sold 28,843 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $36.90, for a total value of $1,064,306.70. Following the transaction, the director owned 7,115 shares in the company, valued at $262,543.50. This trade represents a 80.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Stag Industrial
Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in shares of Stag Industrial by 37.0% in the first 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 acquiring an additional 451,355 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Stag Industrial by 17.6% in the first quarter. NewEdge Advisors LLC now owns 9,952 shares of the real estate investment trust's stock valued at $359,000 after acquiring an additional 1,491 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Stag Industrial in the first quarter valued at approximately $229,000. Hedge funds and other institutional investors own 88.67% of the company's stock.
About Stag Industrial
(
Get Free Report)
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.
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