STAG Industrial, Inc.
), a real estate investment trust (REIT), has recently acquired two
industrial buildings for $ 9.2 million. Spanning 411,994 square
feet, the properties are located in Simpsonville, South Carolina.
With the acquisition, the year-to-date tally has surged to $145
The industrial buildings are primarily leased to Lanxess
Corporation. 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 reported second quarter 2012 core funds from
operations (FFO) of $6.2 million or 32 cents per share, compared
with $4.8 million or 30 cents in the year-earlier quarter.
STAG Industrial is focused on the acquisition, ownership and
management of single-tenant industrial properties throughout the
United States. 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 126
properties in 29 states with approximately 21.6 million rentable
STAG Industrial currently retains a Zacks #3 Rank, which
translates into a short-term Hold rating. We have a long-term
Neutral recommendation on the stock. One of its competitors,
First industrial Realty Trust Inc
) also retains a Zacks #3 Rank.
Note: FFO, a widely used metric to gauge the performance of
REITs, is obtained after adding depreciation and other non-cash
expenses to net income.
STAG INDUSTRIAL (STAG): Free Stock Analysis
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