Stag Industrial Inc (NYSE:STAG) announced a monthly dividend on Monday, January 13th, Wall Street Journal reports. Shareholders of record on Tuesday, March 31st will be given a dividend of 0.12 per share by the real estate investment trust on Wednesday, April 15th. This represents a $1.44 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Monday, March 30th.
Stag Industrial has raised its dividend by an average of 1.0% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Stag Industrial has a dividend payout ratio of 433.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Stag Industrial to earn $1.92 per share next year, which means the company should continue to be able to cover its $1.43 annual dividend with an expected future payout ratio of 74.5%.
Shares of NYSE STAG traded up $0.30 during midday trading on Monday, reaching $32.02. 500,737 shares of the stock were exchanged, compared to its average volume of 749,042. Stag Industrial has a twelve month low of $25.96 and a twelve month high of $32.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50 day simple moving average of $31.04 and a 200 day simple moving average of $30.26. The stock has a market capitalization of $4.23 billion, a P/E ratio of 17.89, a PEG ratio of 4.12 and a beta of 0.86.
Several analysts recently weighed in on STAG shares. Zacks Investment Research upgraded shares of Stag Industrial from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Wells Fargo & Co upgraded shares of Stag Industrial from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a report on Tuesday, December 10th. JPMorgan Chase & Co. upgraded shares of Stag Industrial from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $34.00 in a report on Wednesday, December 18th. Finally, Royal Bank of Canada upgraded shares of Stag Industrial from an “outperform” rating to a “top pick” rating and lifted their target price for the company from $33.00 to $34.00 in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $32.83.
In other news, CFO William R. Crooker sold 26,952 shares of Stag Industrial stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $31.32, for a total transaction of $844,136.64. Following the completion of the sale, the chief financial officer now directly owns 20,131 shares of the company’s stock, valued at approximately $630,502.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David G. King sold 30,000 shares of Stag Industrial stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $31.32, for a total transaction of $939,600.00. Following the sale, the director now directly owns 509 shares of the company’s stock, valued at $15,941.88. The disclosure for this sale can be found here. Insiders sold a total of 203,231 shares of company stock valued at $6,365,195 in the last three months. 1.50% of the stock is currently owned by corporate insiders.
Stag Industrial Company Profile
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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