STAG Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Wednesday, January 13th, Wall Street Journal reports. Investors of record on Friday, February 26th will be given a dividend of 0.1208 per share by the real estate investment trust on Monday, March 15th. This represents a $1.45 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Thursday, February 25th.
STAG Industrial has raised its dividend payment by 2.5% over the last three years and has raised its dividend annually for the last 7 consecutive years. STAG Industrial has a payout ratio of 378.9% 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 $1.91 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 75.4%.
STAG stock opened at $30.53 on Thursday. The firm has a market cap of $4.56 billion, a PE ratio of 41.82, a P/E/G ratio of 5.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.84 and a current ratio of 2.84. The firm’s fifty day moving average is $30.49 and its 200 day moving average is $31.26. STAG Industrial has a one year low of $17.54 and a one year high of $34.50.
Several equities analysts have issued reports on STAG shares. Bank of America increased their price objective on shares of STAG Industrial from $28.00 to $30.00 and gave the company an “underperform” rating in a report on Monday, November 16th. BidaskClub raised shares of STAG Industrial from a “sell” rating to a “hold” rating in a report on Thursday, December 17th. JPMorgan Chase & Co. downgraded shares of STAG Industrial from an “overweight” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a report on Monday, December 21st. Robert W. Baird downgraded shares of STAG Industrial from an “outperform” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Tuesday, September 22nd. Finally, Zacks Investment Research downgraded shares of STAG Industrial from a “buy” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.80.
In related news, COO Stephen C. Mecke sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 7th. The shares were sold at an average price of $29.90, for a total transaction of $1,495,000.00. Following the completion of the sale, the chief operating officer now directly owns 52,000 shares in the company, valued at $1,554,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Benjamin S. Butcher sold 23,268 shares of the firm’s stock in a transaction dated Thursday, January 7th. The stock was sold at an average price of $30.04, for a total transaction of $698,970.72. Following the sale, the chief executive officer now owns 47,088 shares of the company’s stock, valued at $1,414,523.52. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
About STAG Industrial
STAG Industrial, Inc (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. By targeting this type of property, STAG has developed an investment strategy that helps investors find a powerful balance of income plus growth.
Featured Story: Certificate of Deposit (CD) For Risk Adverse Investors?
Receive News & Ratings for STAG Industrial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STAG Industrial and related companies with MarketBeat.com's FREE daily email newsletter.