Stag Industrial, Inc. (STAG) Plans $0.12 Monthly Dividend
Stag Industrial, Inc. (NYSE:STAG) declared a monthly dividend on Friday, November 3rd, Wall Street Journal reports. Investors of record on Thursday, March 29th will be given a dividend of 0.1183 per share by the real estate investment trust on Monday, April 16th. This represents a $1.42 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Wednesday, March 28th.
Stag Industrial has raised its dividend payment by an average of 0.5% annually over the last three years and has raised its dividend every year for the last 6 years. Stag Industrial has a payout ratio of 83.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Stag Industrial to earn $1.82 per share next year, which means the company should continue to be able to cover its $1.41 annual dividend with an expected future payout ratio of 77.5%.
Stag Industrial (NYSE STAG) traded up $0.98 during midday trading on Friday, reaching $28.62. The company had a trading volume of 1,148,203 shares, compared to its average volume of 355,962. The company has a market capitalization of $2,627.73, a price-to-earnings ratio of 16.73 and a beta of 1.24.
Stag Industrial (NYSE:STAG) last announced its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Stag Industrial had a return on equity of 5.99% and a net margin of 18.96%. The business had revenue of $78.14 million during the quarter, compared to analysts’ expectations of $76.17 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year. analysts predict that Stag Industrial will post 1.68 earnings per share for the current year.
Several equities research analysts recently commented on STAG shares. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Stag Industrial in a report on Wednesday, August 2nd. Raymond James Financial, Inc. increased their price target on Stag Industrial from $27.50 to $28.50 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Evercore ISI raised Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Monday, August 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $31.00) on shares of Stag Industrial in a report on Tuesday, August 22nd. Finally, ValuEngine raised Stag Industrial from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $28.25.
In related news, EVP Peter S. Fearey sold 1,033 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $28.71, for a total value of $29,657.43. Following the completion of the transaction, the executive vice president now directly owns 2,506 shares in the company, valued at $71,947.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.
Stag Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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