STAG Industrial, Inc. (NYSE:STAG) Announces Monthly Dividend of $0.12

STAG Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Tuesday, April 9th, Zacks reports. Shareholders of record on Tuesday, April 30th will be given a dividend of 0.123 per share by the real estate investment trust on Wednesday, May 15th. This represents a $1.48 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Monday, April 29th.

STAG Industrial has raised 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 166.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect STAG Industrial to earn $2.48 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 59.7%.

STAG Industrial Stock Performance

NYSE:STAG opened at $34.48 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.79. The business has a fifty day simple moving average of $37.20 and a two-hundred day simple moving average of $36.82. STAG Industrial has a 1 year low of $31.69 and a 1 year high of $39.61. The company has a market capitalization of $6.27 billion, a P/E ratio of 31.93, a P/E/G ratio of 4.87 and a beta of 1.02.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STAG shares. Barclays started coverage on STAG Industrial in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $42.00 price target (up from $41.00) on shares of STAG Industrial in a research report on Monday, April 8th. Royal Bank of Canada lifted their price target on STAG Industrial from $39.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, February 16th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $41.00 price target (up from $38.00) on shares of STAG Industrial in a research report on Friday, January 5th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.13.

About STAG Industrial

We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States. Our platform is designed to (i) identify properties for acquisition that offer relative value across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants through the principled application of our proprietary risk assessment model, (ii) provide growth through sophisticated industrial operation and an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.