STAG Industrial, Inc. (NYSE:STAG) Raises Dividend to $0.12 Per Share

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 paid 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 3.96%. The ex-dividend date 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% annually over the last three years. STAG Industrial has a dividend payout ratio of 154.2% meaning 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 $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 STAG stock opened at $37.35 on Thursday. The stock has a fifty day moving average of $37.69 and a 200 day moving average of $37.69. STAG Industrial has a 52 week low of $34.09 and a 52 week high of $41.63. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 37.73 and a beta of 1.09. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.87.

Analyst Upgrades and Downgrades

STAG has been the subject of a number of research analyst reports. Wedbush raised their price target on STAG Industrial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Evercore ISI raised their price objective on STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Barclays lowered their price objective on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, Wells Fargo & Company lowered their price objective on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.