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

STAG Industrial, Inc. (NYSE:STAG) announced a dividend on Wednesday, July 10th, NASDAQ reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.1233 per share by the real estate investment trust on Thursday, August 15th. The ex-dividend date is Wednesday, July 31st. This is an increase from STAG Industrial’s previous dividend of $0.12.

STAG Industrial has increased its dividend payment by an average of 0.7% per year over the last three years and has raised its dividend every year for the last 6 years. STAG Industrial has a payout ratio of 170.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect STAG Industrial to earn $2.50 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 59.2%.

STAG Industrial Stock Performance

STAG traded up $1.04 during trading hours on Thursday, hitting $37.32. The company’s stock had a trading volume of 1,614,565 shares, compared to its average volume of 1,110,343. STAG Industrial has a fifty-two week low of $31.69 and a fifty-two week high of $39.61. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $6.80 billion, a PE ratio of 36.93, a PEG ratio of 5.06 and a beta of 1.09. The company has a 50-day simple moving average of $35.41 and a 200 day simple moving average of $36.81.

Insider Activity

In other news, Director Benjamin S. Butcher sold 30,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $34.81, for a total value of $1,044,300.00. Following the sale, the director now directly owns 8,304 shares of the company’s stock, valued at $289,062.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on STAG shares. BMO Capital Markets reissued an “outperform” rating and set a $42.00 price objective (up from $41.00) on shares of STAG Industrial in a research note on Monday, April 8th. Barclays decreased their target price on STAG Industrial from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. Finally, BNP Paribas began coverage on STAG Industrial in a research report on Tuesday, June 4th. They issued a “neutral” rating and a $39.00 target price for the company. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.00.

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.