Stag Industrial Inc (NYSE:STAG) announced a monthly dividend on Friday, November 3rd, Wall Street Journal reports. Stockholders of record on Wednesday, February 28th will be paid 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 dividend yield of 4.96%. The ex-dividend date of this dividend is Tuesday, February 27th.
Stag Industrial has increased its dividend by an average of 0.5% annually over the last three years and has increased its dividend every year for the last 6 years. Stag Industrial has a payout ratio of 83.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research 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%.
Shares of Stag Industrial (NYSE STAG) opened at $28.62 on Friday. The stock has a market cap of $2,627.73, a price-to-earnings ratio of 16.73, a P/E/G ratio of 3.17 and a beta of 1.24. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.63.
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, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Stag Industrial had a negative return on equity of 0.45% and a net margin of 1.89%. The company had revenue of $78.14 million for the quarter, compared to analyst estimates of $76.17 million. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis. equities analysts forecast that Stag Industrial will post 1.68 EPS for the current fiscal year.
In other Stag Industrial news, EVP Peter S. Fearey sold 1,033 shares of Stag Industrial stock in a transaction on Friday, September 8th. The stock was sold at an average price of $28.71, for a total transaction of $29,657.43. Following the completion of the transaction, the executive vice president now owns 2,506 shares in the company, valued at $71,947.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.
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Several research firms recently weighed in on STAG. BidaskClub upgraded Stag Industrial from a “strong sell” rating to a “sell” rating in a research report on Saturday. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Stag Industrial in a research report on Friday. Jefferies Group LLC restated a “buy” rating and set a $32.00 price target (up from $31.00) on shares of Stag Industrial in a research report on Tuesday, August 22nd. Evercore ISI upgraded Stag Industrial from an “in-line” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Monday, August 14th. Finally, Raymond James Financial, Inc. lifted their price target on Stag Industrial from $27.50 to $28.50 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $28.25.
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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