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 Wednesday, February 28th will be given a dividend of 0.1183 per share by the real estate investment trust on Thursday, March 15th. This represents a $1.42 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Tuesday, February 27th.
Stag Industrial has increased its dividend payment by an average of 0.5% per year over the last three years and has increased 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 fall. Equities research 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 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 cap of $2,627.73, a PE ratio of 16.73 and a beta of 1.24.
Stag Industrial (NYSE:STAG) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. Stag Industrial had a return on equity of 5.99% and a net margin of 18.96%. The company had revenue of $78.14 million during the quarter, compared to analysts’ expectations of $76.17 million. During the same quarter in the previous year, the business earned $0.40 EPS. Stag Industrial’s revenue was up 24.8% compared to the same quarter last year. analysts expect that Stag Industrial will post 1.68 EPS for the current fiscal year.
In other news, EVP Peter S. Fearey sold 1,033 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $71,947.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.
STAG has been the subject of a number of research analyst reports. ValuEngine raised Stag Industrial from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Raymond James Financial, Inc. lifted their target price on Stag Industrial from $27.50 to $28.50 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Stag Industrial in a research report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and set a $32.00 target price on shares of Stag Industrial in a research report on Tuesday, September 26th. Finally, UBS AG raised Stag Industrial from a “sell” rating to a “neutral” rating and lifted their target price for the company from $21.00 to $28.00 in a research report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Stag Industrial has a consensus rating of “Buy” and an average target price of $28.25.
About Stag Industrial
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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