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

Stag Industrial, Inc. (NYSE:STAG) announced a monthly dividend on Thursday, July 10th, Wall Street Journal reports. Shareholders of record on Tuesday, September 30th will be given a dividend of 0.1242 per share by the real estate investment trust on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Tuesday, September 30th.

Stag Industrial has a dividend payout ratio of 146.1% 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 $2.63 per share next year, which means the company should continue to be able to cover its $1.49 annual dividend with an expected future payout ratio of 56.7%.

Stag Industrial Stock Up 1.0%

NYSE:STAG opened at $34.87 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The stock’s fifty day moving average is $35.59 and its two-hundred day moving average is $35.10. Stag Industrial has a 52 week low of $28.61 and a 52 week high of $39.68. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 27.46 and a beta of 0.94.

Stag Industrial (NYSE:STAG) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 EPS for the quarter, hitting analysts’ consensus estimates of $0.63. Stag Industrial had a return on equity of 6.71% and a net margin of 29.14%.The company had revenue of $207.44 million for the quarter, compared to analysts’ expectations of $206.37 million. During the same period in the prior year, the firm earned $0.61 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Research analysts anticipate that Stag Industrial will post 2.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI upped their target price on shares of Stag Industrial from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.33.

About Stag Industrial

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.