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Fly News Breaks for October 14, 2016
STAG
Oct 14, 2016 | 08:02 EDT
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.
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