Stag Industrial Inc (NYSE:STAG) declared a dividend on Monday, July 15th, NASDAQ reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.119 per share by the real estate investment trust on Tuesday, October 15th. The ex-dividend date of this dividend is Friday, September 27th.
Stag Industrial has raised its dividend payment by an average of 1.4% annually over the last three years and has increased its dividend every year for the last 8 years. Stag Industrial has a dividend payout ratio of 79.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Stag Industrial to earn $1.89 per share next year, which means the company should continue to be able to cover its $1.43 annual dividend with an expected future payout ratio of 75.7%.
NYSE:STAG traded down $0.44 during trading hours on Wednesday, reaching $29.26. 6,752,800 shares of the company were exchanged, compared to its average volume of 959,169. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.72. The stock’s 50-day moving average is $29.26 and its 200-day moving average is $29.59. The firm has a market cap of $3.81 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 4.23 and a beta of 0.92. Stag Industrial has a twelve month low of $23.24 and a twelve month high of $31.66.
In other Stag Industrial news, EVP Jeffrey M. Sullivan sold 35,815 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.37, for a total transaction of $1,051,886.55. Following the completion of the transaction, the executive vice president now owns 35,815 shares of the company’s stock, valued at $1,051,886.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.50% of the company’s stock.
STAG has been the subject of a number of recent research reports. ValuEngine cut shares of Stag Industrial from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Zacks Investment Research upgraded shares of Stag Industrial from a “sell” rating to a “hold” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.63.
About Stag Industrial
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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