STAG Industrial, Inc. (
, a real estate investment trust (REIT), has recently acquired a
portfolio of 31 industrial buildings for approximately $129 million
from an unnamed seller.
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STAG INDUSTRIAL (STAG): Free Stock Analysis
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The portfolio totals to approximately 4.3 million square feet of
warehouse and distribution space spread across 10 different states.
The buildings are leased to 29 different tenants and are 91%
leased. With this transaction, the company's year-to-date
acquisition tally has surged to $343 million. Overall square
footage of STAG Industrial has increased by 63% since year-end
Through this strategic initiative, the company expects to enhance
the quality of its portfolio and expects it to be accretive to
earnings going forward. 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 location.
Despite the challenging economic environment, STAG Industrial has
been very active on the acquisition front. In October 2012,
the company had acquired 13 fully leased industrial
facilities totaling approximately 3.1 million square feet.
STAG Industrial owns and manages single-tenant industrial
properties throughout the United States. The company is currently
focused on the acquisition of Class B, single tenant industrial
properties primarily in secondary markets. Presently, the company's
portfolio consists of 165 properties in 31 states aggregating
approximately 27.8 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