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

STAG Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Monday, January 13th,Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.1242 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.49 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Monday, March 31st. This is a positive change from STAG Industrial’s previous monthly dividend of $0.12.

STAG Industrial has raised its dividend payment by an average of 0.7% annually over the last three years. STAG Industrial has a dividend payout ratio of 148.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Up 1.9 %

STAG opened at $33.59 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 33.93 and a beta of 1.09. The business has a 50-day moving average of $35.40 and a two-hundred day moving average of $37.56. STAG Industrial has a 12 month low of $32.27 and a 12 month high of $41.63.

Analysts Set New Price Targets

Several brokerages have recently weighed in on STAG. Raymond James upped their target price on shares of STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Barclays cut their price target on STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, Wells Fargo & Company lowered their price objective on shares of STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

STAG Industrial Company Profile

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.