STAG Industrial, Inc. (
, a real estate investment trust (REIT), has recently acquired a
warehouse and distribution facility for approximately $9.3 million.
The property spans 200,000 square feet and is located near Green
Bay Wisconsin. With this transaction, the company's year-to-date
tally for acquisitions has surged to $174 million.
The building is currently fully leased to an unnamed logistics
company. Through this strategic initiative, the company expects to
enhance its portfolio quality and expects it to be accretive to
earnings going forward.
Despite the challenging economic environment, STAG Industrial
has been very active on the acquisition front. Earlier in the
second quarter 2012, the company completed the acquisitions of 12
properties for $74.9 million. With these acquisitions the company
added 2.3 million square feet to its portfolio.
STAG Industrial had acquired two industrial buildings for $9.2
million in August, 2012. Spanning 411,994 square feet, the
properties are located in Simpsonville, South Carolina. At the same
time, the company continues the diversification of its portfolio to
maintain a mix of markets and tenants which in turn will limit its
exposure to any single tenant, industry, or geographic
STAG Industrial is focused on the acquisition, ownership and
management of single-tenant industrial properties throughout the
United States. In particular, the company is focused on the
acquisition of Class B, single tenant industrial properties
primarily in secondary markets. Presently, the company's portfolio
consists of 130 properties in 29 states with approximately 22.3
million rentable square feet.
STAG Industrial currently retains a Zacks #2 Rank, which
translates into a short-term Buy rating. We have a long-term
Neutral recommendation on the stock. One of its competitors,
First industrial Realty Trust Inc (
retains a Zacks# 3 rank, which translates into a short-term Hold
FIRST INDL RLTY (FR): Free Stock Analysis
STAG INDUSTRIAL (STAG): Free Stock Analysis
To read this article on Zacks.com click here.