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STAG Industrial Amends and Restates Unsecured Term Loans
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STAG Industrial, Inc. (STAG - Free Report) has made the announcement of amending and restating the two $150 million unsecured bank term loans. This new arrangement for Term Loan B is likely to add to the financial flexibility of the Boston, MA-based real estate investment trust (“REIT”).
STAG Industrial focuses on the acquisition, ownership and management of single-tenant industrial properties throughout the U.S. The rate on Term Loan A has been lowered from LIBOR plus 1.65% to LIBOR plus 1.30%. The rate on Term Loan B has been changed from LIBOR plus 1.70% to LIBOR plus 1.30%. The maturity dates of these two loans, however, have been kept unchanged.
Shares of STAG Industrial outperformed the Zacks categorized REIT and Equity Trust - Other industry, year to date. During the same time span, shares of the company grew 28.5%, whereas the industry gained 4.4%. Further, over the past 60 days, current-year estimates for STAG Industrial rose 1.3% to $1.57 per share.
STAG Industrial currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the real estate space include AGNC Investment Corp. (AGNC - Free Report) , Seritage Growth Properties (SRG - Free Report) and DCT Industrial Trust Inc. . While AGNC Investment sports a Zacks Rank #1 (Strong Buy), both Seritage Growth and DCT Industrial Trust carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AGNC Investment’s current-year estimates have moved up 7.3% to $2.36 per share, over the past 60 days.
Seritage Growths’ current-year estimates have moved up 0.9% to $2.34 per share, over the past 60 days.
DCT Industrial Trust’s current-year estimates have moved up 2.3%, over the past 60 days to $2.24 per share.
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STAG Industrial Amends and Restates Unsecured Term Loans
STAG Industrial, Inc. (STAG - Free Report) has made the announcement of amending and restating the two $150 million unsecured bank term loans. This new arrangement for Term Loan B is likely to add to the financial flexibility of the Boston, MA-based real estate investment trust (“REIT”).
STAG Industrial focuses on the acquisition, ownership and management of single-tenant industrial properties throughout the U.S. The rate on Term Loan A has been lowered from LIBOR plus 1.65% to LIBOR plus 1.30%. The rate on Term Loan B has been changed from LIBOR plus 1.70% to LIBOR plus 1.30%. The maturity dates of these two loans, however, have been kept unchanged.
Shares of STAG Industrial outperformed the Zacks categorized REIT and Equity Trust - Other industry, year to date. During the same time span, shares of the company grew 28.5%, whereas the industry gained 4.4%. Further, over the past 60 days, current-year estimates for STAG Industrial rose 1.3% to $1.57 per share.
STAG Industrial currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the real estate space include AGNC Investment Corp. (AGNC - Free Report) , Seritage Growth Properties (SRG - Free Report) and DCT Industrial Trust Inc. . While AGNC Investment sports a Zacks Rank #1 (Strong Buy), both Seritage Growth and DCT Industrial Trust carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AGNC Investment’s current-year estimates have moved up 7.3% to $2.36 per share, over the past 60 days.
Seritage Growths’ current-year estimates have moved up 0.9% to $2.34 per share, over the past 60 days.
DCT Industrial Trust’s current-year estimates have moved up 2.3%, over the past 60 days to $2.24 per share.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>