Stag Industrial, Inc. (NYSE:STAG) declared a monthly dividend on Friday, November 3rd, Wall Street Journal reports. Stockholders of record on Wednesday, January 31st will be given a dividend of 0.1183 per share by the real estate investment trust on Thursday, February 15th. This represents a $1.42 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Tuesday, January 30th. This is a positive change from Stag Industrial’s previous monthly dividend of $0.12.
Stag Industrial has raised its dividend by an average of 0.5% 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 84.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Stag Industrial to earn $1.82 per share next year, which means the company should continue to be able to cover its $1.41 annual dividend with an expected future payout ratio of 77.5%.
Stag Industrial (STAG) opened at $28.30 on Monday. The firm has a market cap of $2,662.54, a price-to-earnings ratio of 16.95, a PEG ratio of 3.21 and a beta of 1.24. Stag Industrial has a 1-year low of $21.52 and a 1-year high of $28.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.09 and a quick ratio of 0.09.
Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The firm had revenue of $78.14 million for the quarter, compared to analysts’ expectations of $76.17 million. Stag Industrial had a net margin of 18.96% and a return on equity of 5.72%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. research analysts expect that Stag Industrial will post 1.68 EPS for the current year.
STAG has been the topic of a number of research analyst reports. ValuEngine raised Stag Industrial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. UBS AG raised Stag Industrial from a “sell” rating to a “neutral” rating and increased their target price for the company from $21.00 to $28.00 in a research note on Friday, September 8th. BidaskClub cut Stag Industrial from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 target price (up previously from $31.00) on shares of Stag Industrial in a research note on Tuesday, August 22nd. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Stag Industrial in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Stag Industrial presently has an average rating of “Buy” and an average target price of $28.25.
In other news, EVP Peter S. Fearey sold 1,033 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $28.71, for a total transaction of $29,657.43. Following the completion of the sale, the executive vice president now directly owns 2,506 shares in the company, valued at $71,947.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.
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Stag Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust. The Company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties across the United States. As of December 31, 2016, the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet, consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment.
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