Stag Industrial Inc (NYSE:STAG) declared a monthly dividend on Monday, July 13th, Wall Street Journal reports. Investors of record on Monday, August 31st will be paid a dividend of 0.12 per share by the real estate investment trust on Tuesday, September 15th. This represents a $1.44 annualized dividend and a yield of 4.84%. The ex-dividend date is Friday, August 28th.
Stag Industrial has a dividend payout ratio of 240.0% 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 $1.86 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 77.4%.
Shares of STAG opened at $29.77 on Tuesday. Stag Industrial has a 12 month low of $17.54 and a 12 month high of $33.48. The firm has a fifty day simple moving average of $28.51 and a 200 day simple moving average of $28.08. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 41.93, a PEG ratio of 9.23 and a beta of 1.14. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.75.
Stag Industrial (NYSE:STAG) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.04). Stag Industrial had a return on equity of 4.96% and a net margin of 24.61%. The business had revenue of $118.55 million for the quarter, compared to analyst estimates of $114.96 million. During the same quarter in the previous year, the company posted $0.45 EPS. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, research analysts predict that Stag Industrial will post 1.84 earnings per share for the current fiscal year.
STAG has been the subject of several recent research reports. Citigroup reduced their target price on shares of Stag Industrial from $33.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Royal Bank of Canada cut their price target on shares of Stag Industrial from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, April 2nd. TheStreet upgraded shares of Stag Industrial from a “c+” rating to a “b-” rating in a research note on Tuesday, June 16th. Finally, Robert W. Baird cut their price target on shares of Stag Industrial from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $32.00.
About Stag Industrial
STAG Industrial, Inc is an industrial real estate operating company focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended.
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