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| Company Name | Symbol | %Change |
|---|---|---|
| ALLIANCE FIB | AFOP | 5.21% |
| CYNOSURE INC | CYNO | 4.42% |
| DAWSON GEOPH | DWSN | 4.33% |
| MARRIOT VAC | VAC | 3.27% |
| BLOOMIN' | BLMN | 2.93% |
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STAG Industrial, Inc. (STAG - Snapshot Report)), a real estate investment trust (REIT), has recently acquired two warehouse and distribution facilities for approximately $26 million. The two adjacent properties span 787,380 square feet and are located near Greenville, South Carolina. With this transaction, the company's year-to-date acquisition tally has surged to $200 million.
The two buildings are currently fully leased. One of the acquired properties, spanning 474,000 square feet, is leased to L. Perrigo Company, while the other (spanning 313,380 square feet) is leased to Arvato Digital Services, LLC.
L. Perrigo is a leading developer, manufacturer and distributor of pharmaceuticals and nutritional products. It uses this facility for storage and distribution of its nutritional products. Arvato provides various manufacturing and distribution services to media and entertainment and other industries. It uses the facility for producing and managing data storage media.
Through this strategic initiative, the company expects to enhance the quality of its portfolio and expects it to be accretive to earnings going forward. At the same time, the company continues the diversification of its portfolio to maintain a mix of markets and tenants, which in turn will limit its exposure to any single tenant, industry, or geographic location.
Despite the challenging economic environment, STAG Industrial has been very active on the acquisition front. Earlier in the second quarter 2012, the company completed the acquisition of 12 properties for $74.9 million and added 2.3 million square feet to its portfolio
STAG Industrial is focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States. The company is focused on the acquisition of Class B, single tenant industrial properties primarily in secondary markets. Presently, the company’s portfolio consists of 132 properties in 29 states with approximately 23.1 million rentable square feet.
STAG Industrial currently retains a Zacks #2 Rank, which translates into a short-term Buy rating. We have a long-term Neutral recommendation on the stock. One of its competitors, First industrial Realty Trust Inc (FR - Snapshot Report) retains a Zacks# 3 rank, which translates into a short term Hold rating.
Read the full Snapshot Report on FR
Read the full Snapshot Report on STAG