STAG Industrial, Inc. (NYSE:STAG) declared a monthly dividend on Thursday, January 13th, Wall Street Journal reports. Stockholders of record on Thursday, March 31st will be given a dividend of 0.1217 per share by the real estate investment trust on Monday, April 18th. This represents a $1.46 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Wednesday, March 30th.
STAG Industrial has increased its dividend by 2.1% over the last three years and has increased its dividend annually for the last 9 consecutive years. STAG Industrial has a payout ratio of 226.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect STAG Industrial to earn $2.15 per share next year, which means the company should continue to be able to cover its $1.45 annual dividend with an expected future payout ratio of 67.4%.
Shares of STAG Industrial stock opened at $43.59 on Friday. STAG Industrial has a 52-week low of $29.40 and a 52-week high of $48.27. The company has a 50 day moving average of $44.44 and a 200 day moving average of $42.34. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $7.40 billion, a P/E ratio of 34.60, a P/E/G ratio of 4.00 and a beta of 0.94.
STAG has been the topic of a number of recent research reports. Raymond James lifted their target price on shares of STAG Industrial from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, January 10th. Royal Bank of Canada boosted their price objective on shares of STAG Industrial from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, November 8th. Finally, Zacks Investment Research cut shares of STAG Industrial from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $47.00.
An institutional investor recently raised its position in STAG Industrial stock. Morgan Stanley grew its stake in shares of STAG Industrial, Inc. (NYSE:STAG) by 33.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 594,942 shares of the real estate investment trust’s stock after purchasing an additional 150,632 shares during the period. Morgan Stanley owned approximately 0.37% of STAG Industrial worth $22,269,000 at the end of the most recent reporting period. Institutional investors own 82.87% of the company’s stock.
STAG Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust, which focuses on acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.
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