Markets
ARE

STAG Industrial Sells Six Industrial Real Estate Properties

In sync with its strategy, STAG Industrial, Inc.STAG has closed the sale of Southeast Portfolio for a gross proceed of around $81 million. This Boston, MA-based real estate investment trust ("REIT") sold the properties to Pure Industrial Real Estate Trust at a capitalization rate of 6.9%.

The portfolio comprises six industrial real estate properties located in Atlanta and Charlotte and spans over an area of around 1.6 million square feet. The assets are fully leased to seven tenants.

STAG Industrial is engaged in the acquisition, ownership and management of single-tenant industrial properties throughout the U.S.

Currently, STAG Industrial has a Zacks Rank #2 (Buy). Over the past 30 days, its current-quarter funds from operations ("FFO") estimates remained unchanged at 40 cents.

STAG INDUSTRIAL Price

STAG INDUSTRIAL Price | STAG INDUSTRIAL Quote

Some other stocks in the same space include Seritage Growth Properties SRG , Alexandria Real Estate Equities, Inc. ARE and DCT Industrial Trust Inc. DCT . While Seritage Growth Properties sports a Zacks Rank #1 (Strong Buy), both Alexandria Real Estate Equities and DCT Industrial Trust carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here .

Seritage Growth Properties' current quarter estimates have moved up 1.7% over the past one month to 59 cents.

Current-quarter estimates for Alexandria Real Estate Equities and DCT Industrial Trust remained unchanged at $1.43 and 56 cents, respectively, over the past month.

Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.

Zacks' Top Investment Ideas for Long-Term Profit

How would you like to see our best recommendations to help you find today's most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

ALEXANDRIA REAL (ARE): Free Stock Analysis Report

DCT INDUSTRIAL (DCT): Free Stock Analysis Report

STAG INDUSTRIAL (STAG): Free Stock Analysis Report

SERITAGE GROWTH (SRG): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ARE STAG SRG

Other Topics

Stocks