| 2016-10-14 08:02:26|
STAG 08:02 10/14 10/14/16
STAG Industrial upgraded to Overweight on robust pipelie at Capital One
Capital One analyst Thomas Lesnick upgraded STAG Industrial to Overweight and raised its price target to $24 from $23 on a robust acquisition pipeline and a portfolio sale that should act as a catalyst for shares. The analyst said STAG's acquisition volume should be at the high end of management's 2016 $450M guidance. Further, STAG entered into two build-to-suit development takeouts for 2017 totaling $51.1M and entered into an $80M portfolio sale along the southeast I-85 corridor, which he estimates to be a 7.0% cap in our model.