Stag Industrial, Inc. (STAG) to Issue Monthly Dividend of $0.12
Stag Industrial, Inc. (NYSE:STAG) declared a monthly dividend on Friday, November 3rd, Wall Street Journal reports. Shareholders of record on Wednesday, January 31st will be given a dividend of 0.1183 per share by the real estate investment trust on Thursday, February 15th. This represents a $1.42 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Tuesday, January 30th. This is an increase from Stag Industrial’s previous monthly dividend of $0.12.
Stag Industrial has increased its dividend payment by an average of 0.5% per year 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 fall. 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 (STAG) traded up $1.00 on Friday, reaching $28.64. 1,037,161 shares of the company’s stock traded hands, compared to its average volume of 355,962. The firm has a market cap of $2,627.73, a P/E ratio of 16.73 and a beta of 1.24.
Stag Industrial (NYSE:STAG) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. Stag Industrial had a net margin of 18.96% and a return on equity of 5.99%. The business had revenue of $78.14 million during the quarter, compared to analyst estimates of $76.17 million. During the same quarter in the previous year, the business posted $0.40 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. sell-side analysts predict that Stag Industrial will post 1.68 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the stock. 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 issued a $32.00 price objective (up previously from $31.00) on shares of Stag Industrial in a research report on Tuesday, August 22nd. Evercore ISI raised shares of Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Monday, August 14th. Raymond James Financial, Inc. lifted their price objective on shares of Stag Industrial from $27.50 to $28.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Finally, BidaskClub downgraded shares of Stag Industrial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Stag Industrial presently has a consensus rating of “Buy” and a consensus target price of $28.25.
In other Stag Industrial news, EVP Peter S. Fearey sold 1,033 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $28.71, for a total transaction of $29,657.43. Following the sale, the executive vice president now owns 2,506 shares of the company’s stock, valued at approximately $71,947.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.
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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