Stag Industrial Inc (NYSE:STAG) declared a monthly dividend on Tuesday, October 15th, Zacks reports. Stockholders of record on Thursday, October 31st will be paid a dividend of 0.119 per share by the real estate investment trust on Friday, November 15th. This represents a $1.43 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Wednesday, October 30th.
Stag Industrial has raised its dividend payment by an average of 1.4% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Stag Industrial has a payout ratio of 79.9% 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 $1.89 per share next year, which means the company should continue to be able to cover its $1.43 annual dividend with an expected future payout ratio of 75.7%.
Shares of NYSE:STAG opened at $30.35 on Thursday. Stag Industrial has a 1 year low of $23.24 and a 1 year high of $31.66. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 4.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50 day moving average price is $29.61 and its 200-day moving average price is $29.73.
STAG has been the subject of several recent research reports. ValuEngine downgraded Stag Industrial from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Zacks Investment Research raised Stag Industrial from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Stag Industrial has a consensus rating of “Hold” and an average price target of $30.63.
In related news, EVP Jeffrey M. Sullivan sold 35,815 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.37, for a total value of $1,051,886.55. Following the completion of the transaction, the executive vice president now directly owns 35,815 shares of the company’s stock, valued at approximately $1,051,886.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.
About Stag Industrial
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (?REIT?) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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