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

STAG Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Friday, October 11th, Wall Street Journal reports. Investors of record on Friday, November 29th will be given a dividend of 0.1233 per share by the real estate investment trust on Monday, December 16th. This represents a $1.48 annualized dividend and a yield of 3.98%. The ex-dividend date is Friday, November 29th. This is an increase from STAG Industrial’s previous monthly dividend of $0.12.

STAG Industrial has increased its dividend by an average of 0.7% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. STAG Industrial has a dividend payout ratio of 114.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect STAG Industrial to earn $2.52 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 58.7%.

STAG Industrial Trading Up 1.1 %

Shares of NYSE:STAG traded up $0.39 during mid-day trading on Friday, hitting $37.23. The stock had a trading volume of 607,149 shares, compared to its average volume of 1,068,597. The company has a market cap of $6.78 billion, a PE ratio of 35.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.60 and a current ratio of 1.60. The company’s 50 day moving average is $39.36 and its 200-day moving average is $37.43. STAG Industrial has a 12-month low of $31.69 and a 12-month high of $41.63.

Insider Transactions at STAG Industrial

In other news, Director Benjamin S. Butcher sold 34,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $40.78, for a total transaction of $1,386,520.00. Following the completion of the sale, the director now owns 8,758 shares in the company, valued at $357,151.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

STAG has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of STAG Industrial from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Wedbush increased their price target on STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Evercore ISI increased their price target on STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Finally, Barclays increased their price target on STAG Industrial from $38.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, STAG Industrial has an average rating of “Hold” and a consensus target price of $41.22.

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.