Stag Industrial, Inc. (NYSE:STAG) declared a monthly dividend on Thursday, May 4th, Wall Street Journal reports. Stockholders of record on Monday, July 31st will be given a dividend of 0.1175 per share by the real estate investment trust on Tuesday, August 15th. This represents a $1.41 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Thursday, July 27th. 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 0.5% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Stag Industrial has a dividend payout ratio of 83.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Stag Industrial to earn $1.81 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 77.9%.
Stag Industrial (STAG) traded up 1.06% during trading on Friday, hitting $27.68. The stock had a trading volume of 518,774 shares. Stag Industrial has a 12-month low of $21.21 and a 12-month high of $28.75. The firm has a market cap of $2.55 billion, a P/E ratio of 103.28 and a beta of 1.22. The stock’s 50 day moving average price is $27.49 and its 200 day moving average price is $25.98.
Stag Industrial (NYSE:STAG) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $72.20 million for the quarter, compared to analyst estimates of $71.44 million. Stag Industrial had a return on equity of 3.97% and a net margin of 12.22%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 EPS. On average, analysts anticipate that Stag Industrial will post ($0.04) EPS for the current fiscal year.
Several brokerages have recently commented on STAG. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Stag Industrial in a research note on Wednesday. Jefferies Group LLC reissued a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Stag Industrial in a research note on Sunday, June 25th. BidaskClub lowered Stag Industrial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $25.00 price target on shares of Stag Industrial in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Stag Industrial presently has a consensus rating of “Buy” and an average target price of $26.57.
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Stag Industrial Company Profile
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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