STAG Industrial, Inc. (NYSE:STAG) Announces Dividend Increase – $0.12 Per Share

STAG Industrial, Inc. (NYSE:STAG) declared a monthly dividend on Monday, January 13th,Wall Street Journal reports. Stockholders of record on Monday, March 31st will be paid 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 dividend yield of 4.52%. The ex-dividend date is Monday, March 31st. 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% per year over the last three years. STAG Industrial has a payout ratio of 148.0% 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

NYSE STAG opened at $32.95 on Tuesday. The stock has a market capitalization of $6.00 billion, a PE ratio of 33.28 and a beta of 1.09. STAG Industrial has a 1-year low of $32.27 and a 1-year high of $41.63. The business has a 50 day simple moving average of $35.40 and a two-hundred day simple moving average of $37.56. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42.

Wall Street Analyst Weigh In

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

About STAG Industrial

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.