STAG Industrial, Inc. (STAG) To Go Ex-Dividend on May 31st

STAG Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Thursday, April 11th, Wall Street Journal reports. Investors of record on Friday, May 31st will be paid a dividend of 0.1233 per share by the real estate investment trust on Monday, June 17th. This represents a $1.48 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Friday, May 31st. This is an increase from STAG Industrial’s previous monthly dividend of $0.12.

STAG Industrial has raised its dividend by an average of 0.7% annually over the last three years and has raised its dividend every year for the last 6 years. STAG Industrial has a dividend payout ratio of 166.3% 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 analysts expect STAG Industrial to earn $2.49 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 59.4%.

STAG Industrial Stock Down 0.8 %

Shares of STAG Industrial stock opened at $37.10 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. The firm has a market cap of $6.75 billion, a P/E ratio of 34.35, a P/E/G ratio of 5.27 and a beta of 1.02. STAG Industrial has a fifty-two week low of $31.69 and a fifty-two week high of $39.61. The business has a 50-day moving average price of $37.74 and a 200 day moving average price of $36.74.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank of Canada boosted their price objective on STAG Industrial from $39.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, February 16th. BMO Capital Markets reissued an “outperform” rating and issued a $42.00 price objective (up from $41.00) on shares of STAG Industrial in a report on Monday, April 8th. Robert W. Baird restated a “neutral” rating and issued a $41.00 target price (up from $38.00) on shares of STAG Industrial in a research note on Friday, January 5th. Finally, Barclays began coverage on STAG Industrial in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $39.13.

Institutional Investors Weigh In On STAG Industrial

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in STAG Industrial by 4.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 102,746 shares of the real estate investment trust’s stock worth $4,034,000 after purchasing an additional 4,801 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of STAG Industrial by 1.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 338,038 shares of the real estate investment trust’s stock valued at $13,271,000 after buying an additional 5,941 shares in the last quarter. Foresight Group Ltd Liability Partnership bought a new position in shares of STAG Industrial in the fourth quarter valued at $4,617,000. Legal & General Group Plc increased its holdings in shares of STAG Industrial by 5.7% in the fourth quarter. Legal & General Group Plc now owns 1,620,891 shares of the real estate investment trust’s stock valued at $63,636,000 after buying an additional 87,215 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of STAG Industrial by 69.1% in the fourth quarter. Barclays PLC now owns 550,125 shares of the real estate investment trust’s stock valued at $21,598,000 after buying an additional 224,747 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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.