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

STAG Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Wednesday, October 9th, Zacks reports. Shareholders of record on Thursday, October 31st will be paid a dividend of 0.123 per share by the real estate investment trust on Friday, November 15th. This represents a $1.48 annualized dividend and a yield of 4.00%. The ex-dividend date is Thursday, October 31st.

STAG Industrial has increased its dividend payment by an average of 0.7% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. STAG Industrial has a payout ratio of 114.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect STAG Industrial to earn $2.52 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 58.7%.

STAG Industrial Stock Performance

Shares of NYSE:STAG traded up $0.09 on Friday, hitting $36.93. The company’s stock had a trading volume of 8,778 shares, compared to its average volume of 1,065,661. STAG Industrial has a 12 month low of $31.69 and a 12 month high of $41.63. The stock’s 50-day moving average is $39.36 and its two-hundred day moving average is $37.43. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 35.42 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wedbush raised their target price on shares of STAG Industrial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Evercore ISI raised their price objective on shares of STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Barclays upped their target price on STAG Industrial from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company lifted their price target on STAG Industrial from $37.00 to $41.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $41.22.

Insider Transactions at STAG Industrial

In related news, Director Benjamin S. Butcher sold 34,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $40.78, for a total value of $1,386,520.00. Following the completion of the transaction, the director now owns 8,758 shares in the company, valued at $357,151.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

About STAG Industrial

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.