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

STAG Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Wednesday, October 9th,Wall Street Journal reports. Investors of record on Friday, November 29th will be given a dividend of 0.1233 per share by the real estate investment trust on Monday, December 16th. This represents a $1.48 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from STAG Industrial’s previous monthly 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 154.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

STAG Industrial stock opened at $37.01 on Wednesday. The firm’s 50-day moving average is $37.75 and its two-hundred day moving average is $37.68. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $6.74 billion, a P/E ratio of 37.38 and a beta of 1.09. STAG Industrial has a 12-month low of $34.09 and a 12-month high of $41.63.

Analyst Ratings Changes

A number of brokerages have weighed in on STAG. Evercore ISI increased their price target on STAG Industrial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Wells Fargo & Company lowered their price target on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Barclays cut their price objective on shares of STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, Wedbush upped their price target on shares of STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.13.

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.