STAG Industrial, Inc. (NYSE:STAG) Announces Monthly Dividend of $0.12

STAG Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Wednesday, January 13th, Wall Street Journal reports. Stockholders of record on Friday, February 26th will be given a dividend of 0.1208 per share by the real estate investment trust on Monday, March 15th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend is Thursday, February 25th.

STAG Industrial has increased its dividend payment by 2.5% over the last three years and has increased its dividend every year for the last 7 years. STAG Industrial has a payout ratio of 378.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect STAG Industrial to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 75.4%.

Shares of STAG stock traded up $0.29 on Wednesday, hitting $30.53. 542,070 shares of the company’s stock were exchanged, compared to its average volume of 1,021,484. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.84 and a quick ratio of 2.84. STAG Industrial has a 12 month low of $17.54 and a 12 month high of $34.50. The stock has a market cap of $4.56 billion, a P/E ratio of 41.51, a price-to-earnings-growth ratio of 5.27 and a beta of 1.12. The company has a 50 day moving average of $30.49 and a 200 day moving average of $31.25.

STAG Industrial (NYSE:STAG) last announced its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.31). The business had revenue of $117.30 million for the quarter, compared to the consensus estimate of $117.10 million. STAG Industrial had a return on equity of 4.97% and a net margin of 24.61%. STAG Industrial’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. Sell-side analysts predict that STAG Industrial will post 1.86 EPS for the current fiscal year.

In related news, CEO Benjamin S. Butcher sold 23,268 shares of the stock in a transaction dated Thursday, January 7th. The shares were sold at an average price of $30.04, for a total transaction of $698,970.72. Following the completion of the transaction, the chief executive officer now owns 47,088 shares in the company, valued at $1,414,523.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Stephen C. Mecke sold 50,000 shares of the stock in a transaction dated Thursday, January 7th. The shares were sold at an average price of $29.90, for a total transaction of $1,495,000.00. Following the transaction, the chief operating officer now owns 52,000 shares of the company’s stock, valued at approximately $1,554,800. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

STAG has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of STAG Industrial from $28.00 to $30.00 and gave the company an “underperform” rating in a research report on Monday, November 16th. JPMorgan Chase & Co. downgraded shares of STAG Industrial from an “overweight” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Monday, December 21st. Zacks Investment Research downgraded shares of STAG Industrial from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird downgraded shares of STAG Industrial from an “outperform” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Tuesday, September 22nd. Finally, BidaskClub upgraded shares of STAG Industrial from a “sell” rating to a “hold” rating in a research report on Thursday, December 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $33.80.

STAG Industrial Company Profile

STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.

Recommended Story: Strangles