STAG Industrial, Inc. (NYSE:STAG) Plans Dividend Increase – $0.12 Per Share

STAG Industrial, Inc. (NYSE:STAG) declared a dividend on Wednesday, July 31st, investing.com reports. Stockholders of record on Thursday, August 1st will be paid a dividend of 0.1233 per share by the real estate investment trust on Thursday, August 15th. This represents a dividend yield of 3.63%. The ex-dividend date is Wednesday, July 31st. This is a boost from STAG Industrial’s previous dividend of $0.12.

STAG Industrial has raised its dividend payment by an average of 0.7% annually over the last three years. STAG Industrial has a payout ratio of 155.8% meaning 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 $2.51 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 59.0%.

STAG Industrial Stock Up 0.1 %

Shares of STAG stock opened at $40.83 on Thursday. The stock has a 50 day moving average of $36.43 and a 200 day moving average of $36.82. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.78. The stock has a market cap of $7.43 billion, a P/E ratio of 40.83, a P/E/G ratio of 5.76 and a beta of 1.09. STAG Industrial has a twelve month low of $31.69 and a twelve month high of $41.63.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STAG. Wedbush raised STAG Industrial from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $38.00 to $44.00 in a research note on Monday, July 22nd. Barclays reduced their target price on STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, May 24th. BMO Capital Markets restated an “outperform” rating and issued a $42.00 target price (up previously from $41.00) on shares of STAG Industrial in a research report on Monday, April 8th. Finally, BNP Paribas assumed coverage on STAG Industrial in a report on Tuesday, June 4th. They issued a “neutral” rating and a $39.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, STAG Industrial currently has a consensus rating of “Hold” and a consensus price target of $39.50.

Insider Buying and Selling at STAG Industrial

In other STAG Industrial news, Director Benjamin S. Butcher sold 30,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $34.81, for a total transaction of $1,044,300.00. Following the sale, the director now owns 8,304 shares in the company, valued at approximately $289,062.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

STAG Industrial Company Profile

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.