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

STAG Industrial, Inc. (NYSE:STAG) announced a dividend on Wednesday, July 10th, NASDAQ reports. Shareholders of record on Wednesday, July 31st will be given a dividend of 0.1233 per share by the real estate investment trust on Thursday, August 15th. The ex-dividend date of this dividend is Wednesday, July 31st. This is a positive change from STAG Industrial’s previous dividend of $0.12.

STAG Industrial has increased its dividend payment by an average of 0.7% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. STAG Industrial has a payout ratio of 170.1% 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 research analysts expect STAG Industrial to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 59.2%.

STAG Industrial Stock Up 2.9 %

Shares of NYSE STAG traded up $1.04 during trading on Thursday, hitting $37.32. 1,614,565 shares of the company traded hands, compared to its average volume of 1,110,343. The business’s fifty day moving average is $35.41 and its 200 day moving average is $36.81. STAG Industrial has a fifty-two week low of $31.69 and a fifty-two week high of $39.61. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 36.93, a P/E/G ratio of 5.06 and a beta of 1.09. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.75 and a current ratio of 1.75.

Insider Transactions at STAG Industrial

In other news, Director Benjamin S. Butcher sold 30,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $34.81, for a total transaction of $1,044,300.00. Following the completion of the sale, the director now directly owns 8,304 shares of the company’s stock, valued at $289,062.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on STAG. BNP Paribas began coverage on shares of STAG Industrial in a report on Tuesday, June 4th. They set a “neutral” rating and a $39.00 price objective on the stock. Barclays dropped their price objective on shares of STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, May 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $42.00 price objective (up previously from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.00.

STAG Industrial Company Profile

We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States. Our platform is designed to (i) identify properties for acquisition that offer relative value across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants through the principled application of our proprietary risk assessment model, (ii) provide growth through sophisticated industrial operation and an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.