STAG Industrial, Inc.
), a real estate invest trust (REIT), recently announced its
leasing and acquisition activity for the month of August. We
believe the deals are aimed at securing steady revenue growth
opportunities and improving the company's portfolio quality.
STAG Industrial inked one lease renewal deal for around
251,000 square feet of space at a Salem, Ohio-based building. The
renewed lease comprises 10-year lease extension and building
With this transaction, year to date, STAG Industrial has
penned 7 renewal leases and 11 new and expansion leases for a
total of 2.2 million square feet of space.
STAG Industrial bought 2 warehouse and distribution facilities
(totalling 1.2 million square feet) for roughly $53.7
million. These 100% leased properties are located near
Milwaukee, WI and Baltimore, MD.
Consequently, year to date, STAG Industrial has acquired 27
industrial facilities (about 5.5 million square feet) for
approximately $234 million
We remain encouraged with STAG Industrial's leasing and
acquisition activities and expect these to enhance the quality of
the company's portfolio and prove accretive to its earnings,
going forward. Concurrently, the company is also focusing on
portfolio diversification by maintaining a mix of markets and
tenants, which limits its exposure to any single tenant or
geographic location. This provides higher return and offers
protection against volatility, which augurs well for STAG
STAG Industrial currently holds a Zacks Rank #3 (Hold). Better
performing REITs include
Douglas Emmett Inc
Highwoods Properties Inc.
SL Green Realty Corp.
). All these stocks carry a Zacks Rank #2 (Buy).
DOUGLAS EMMETT (DEI): Free Stock Analysis
HIGHWOODS PPTYS (HIW): Free Stock Analysis
SL GREEN REALTY (SLG): Free Stock Analysis
STAG INDUSTRIAL (STAG): Free Stock Analysis
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