Stag Industrial Inc. (STAG) to Issue Monthly Dividend of $0.12 on October 17th
Stag Industrial Inc. (NYSE:STAG) declared a monthly dividend on Wednesday, May 4th. Shareholders of record on Friday, September 30th will be paid a dividend of 0.1158 per share on Monday, October 17th. This represents a $1.39 annualized dividend and a yield of 5.63%. The ex-dividend date of this dividend is Wednesday, September 28th.
Shares of Stag Industrial (NYSE:STAG) opened at 24.70 on Friday. Stag Industrial has a 52 week low of $14.97 and a 52 week high of $25.51. The company’s market cap is $1.76 billion. The company’s 50-day moving average price is $24.37 and its 200 day moving average price is $22.34.
Stag Industrial (NYSE:STAG) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.38 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The business had revenue of $60.24 million for the quarter, compared to the consensus estimate of $54.24 million. Stag Industrial had a negative return on equity of 3.09% and a negative net margin of 9.21%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. Equities research analysts anticipate that Stag Industrial will post $1.56 earnings per share for the current fiscal year.
In other news, CEO Benjamin S. Butcher purchased 2,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were acquired at an average price of $23.81 per share, for a total transaction of $47,620.00. Following the purchase, the chief executive officer now owns 72,088 shares in the company, valued at $1,716,415.28. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. ProShare Advisors LLC bought a new stake in shares of Stag Industrial during the second quarter worth approximately $200,000. First Allied Advisory Services Inc. bought a new stake in shares of Stag Industrial during the second quarter worth approximately $215,000. Sei Investments Co. bought a new stake in shares of Stag Industrial during the second quarter worth approximately $252,000. Hsbc Holdings PLC increased its stake in shares of Stag Industrial by 3.0% in the second quarter. Hsbc Holdings PLC now owns 13,585 shares of the company’s stock worth $324,000 after buying an additional 401 shares during the last quarter. Finally, Cipher Capital LP bought a new stake in shares of Stag Industrial during the second quarter worth approximately $349,000. Hedge funds and other institutional investors own 76.97% of the company’s stock.
Several brokerages have issued reports on STAG. Robert W. Baird reissued an “outperform” rating and issued a $26.00 target price on shares of Stag Industrial in a research report on Friday, August 26th. Cantor Fitzgerald reissued a “hold” rating and issued a $23.50 target price on shares of Stag Industrial in a research report on Monday, August 22nd. Jefferies Group reissued a “hold” rating on shares of Stag Industrial in a research report on Thursday, August 18th. RBC Capital Markets reissued an “outperform” rating and issued a $26.00 target price (up from $22.00) on shares of Stag Industrial in a research report on Friday, August 5th. Finally, Royal Bank Of Canada raised their target price on Stag Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $24.00.
Stag Industrial Company Profile
STAG Industrial, Inc is a real estate investment trust. The Company focuses on the acquisition and operation of single-tenant industrial properties across the United States. The Company owns approximately 290 buildings in over 40 states with approximately 54.7 million rentable square feet, consisting of over 220 warehouse/distribution buildings, approximately 50 light manufacturing buildings and over 20 flex/office buildings.
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