Stag Industrial Inc (NYSE:STAG) declared a monthly dividend on Friday, November 3rd, Wall Street Journal reports. Investors of record on Wednesday, February 28th will be given a dividend of 0.1183 per share by the real estate investment trust on Thursday, March 15th. This represents a $1.42 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date is Tuesday, February 27th.
Stag Industrial has increased its dividend by an average of 3.1% annually over the last three years and has raised its dividend every year for the last 7 years. Stag Industrial has a dividend payout ratio of 84.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Stag Industrial to earn $1.92 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 74.0%.
Stag Industrial (NYSE:STAG) opened at $23.80 on Monday. Stag Industrial has a twelve month low of $22.42 and a twelve month high of $28.95. The company has a market capitalization of $2,314.19, a P/E ratio of 14.08, a P/E/G ratio of 2.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.13 and a quick ratio of 0.13.
A number of brokerages have issued reports on STAG. Zacks Investment Research lowered Stag Industrial from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. TheStreet lowered Stag Industrial from a “b-” rating to a “c+” rating in a research report on Tuesday, December 19th. JPMorgan Chase & Co. raised Stag Industrial from a “neutral” rating to an “overweight” rating and set a $30.00 target price on the stock in a research report on Friday, December 15th. ValuEngine lowered Stag Industrial from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, BidaskClub raised Stag Industrial from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.44.
In other news, CEO Benjamin S. Butcher sold 68,180 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $26.41, for a total transaction of $1,800,633.80. Following the sale, the chief executive officer now owns 140,268 shares of the company’s stock, valued at $3,704,477.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David G. King sold 35,000 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $26.41, for a total value of $924,350.00. Following the sale, the executive vice president now directly owns 35,364 shares in the company, valued at approximately $933,963.24. The disclosure for this sale can be found here. Insiders have sold 165,069 shares of company stock worth $4,359,472 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.
About Stag Industrial
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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