STAG Industrial, Inc. (NYSE:STAG – Get Free Report) announced a monthly dividend on Wednesday, January 10th, Wall Street Journal reports. Shareholders of record on Thursday, February 29th will be paid a dividend of 0.1233 per share by the real estate investment trust on Friday, March 15th. This represents a $1.48 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Wednesday, February 28th. 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 and has increased its dividend annually for the last 6 consecutive years. STAG Industrial has a dividend payout ratio of 152.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect STAG Industrial to earn $2.50 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 59.2%.
STAG Industrial Stock Performance
STAG Industrial stock opened at $38.31 on Monday. STAG Industrial has a twelve month low of $31.01 and a twelve month high of $39.61. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $6.96 billion, a P/E ratio of 35.47, a PEG ratio of 8.82 and a beta of 1.03. The stock’s 50 day moving average is $38.32 and its 200 day moving average is $36.37.
Insider Buying and Selling at STAG Industrial
Institutional Investors Weigh In On STAG Industrial
Several institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Advisor Networks LLC increased its stake in STAG Industrial by 15.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 9,087 shares of the real estate investment trust’s stock worth $376,000 after acquiring an additional 1,188 shares during the last quarter. Great West Life Assurance Co. Can increased its position in STAG Industrial by 5.3% in the first quarter. Great West Life Assurance Co. Can now owns 152,981 shares of the real estate investment trust’s stock worth $6,569,000 after purchasing an additional 7,714 shares during the last quarter. Sei Investments Co. raised its stake in STAG Industrial by 4.4% during the first quarter. Sei Investments Co. now owns 171,667 shares of the real estate investment trust’s stock valued at $7,142,000 after purchasing an additional 7,227 shares in the last quarter. Allianz Asset Management GmbH lifted its position in STAG Industrial by 10.2% during the first quarter. Allianz Asset Management GmbH now owns 111,680 shares of the real estate investment trust’s stock valued at $4,618,000 after purchasing an additional 10,365 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of STAG Industrial by 23.0% in the 1st quarter. Cetera Investment Advisers now owns 6,204 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 1,161 shares during the last quarter. Institutional investors own 88.68% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on STAG. Royal Bank of Canada lifted their price target on STAG Industrial from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 target price (up from $38.00) on shares of STAG Industrial in a report on Friday, January 5th. Finally, Raymond James cut their price target on shares of STAG Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $38.50.
View Our Latest Analysis on STAG
STAG Industrial Company Profile
We are a REIT focused on the acquisition, ownership and operation of industrial properties throughout the United States. We seek to (i) identify properties for acquisition that offer relative value across all locations, industrial property types, and tenants through the principled application of our proprietary risk assessment model, (ii) operate our properties in an efficient, cost-effective manner, and (iii) capitalize our business appropriately given the characteristics of our assets.
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