STAG Industrial, Inc. (NYSE:STAG) Announces Dividend Increase – $0.12 Per Share

STAG Industrial, Inc. (NYSE:STAG) declared a dividend on Friday, February 21st, investing.com reports. Shareholders of record on Monday, March 3rd will be given a dividend of 0.1242 per share by the real estate investment trust on Monday, March 17th. This represents a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from STAG Industrial’s previous dividend of $0.12.

STAG Industrial has increased its dividend payment by an average of 0.7% per year over the last three years. STAG Industrial has a dividend payout ratio of 160.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect STAG Industrial to earn $2.63 per share next year, which means the company should continue to be able to cover its $1.49 annual dividend with an expected future payout ratio of 56.7%.

STAG Industrial Price Performance

Shares of STAG Industrial stock opened at $35.17 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 1.36. STAG Industrial has a 52-week low of $32.27 and a 52-week high of $41.63. The company has a fifty day moving average of $34.22 and a 200-day moving average of $36.80. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 33.81 and a beta of 1.09.

STAG Industrial (NYSE:STAG) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.43. STAG Industrial had a net margin of 24.64% and a return on equity of 5.51%. Equities research analysts expect that STAG Industrial will post 2.47 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on STAG shares. Wells Fargo & Company reduced their price target on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Barclays cut their target price on shares of STAG Industrial from $40.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Raymond James increased their price target on shares of STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada cut their price target on shares of STAG Industrial from $40.00 to $38.00 and set a “sector perform” rating on the stock in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.38.

Insider Buying and Selling at STAG Industrial

In other STAG Industrial news, Director Benjamin S. Butcher sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $35.10, for a total value of $1,755,000.00. Following the completion of the sale, the director now directly owns 9,632 shares in the company, valued at $338,083.20. This trade represents a 83.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

About STAG Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.