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STAG Industrial (STAG) to Be Net Acquirer of Assets in 2016
STAG Industrial, Inc. (STAG - Free Report) will continue being a net acquirer of assets this year, per a REIT.com report, that cited STAG CEO Ben Butcher's video interview.
This interview at REITWeek 2016 also revealed that the company expects to sell at least a small portfolio of $60–$80 million in the current year, in order to rake capital for consistent acquisitions.
This Boston-based REIT which is focused on the acquisition and operation of single-tenant, industrial properties all through the U.S., has acquired five buildings, encompassing 1.4 million square feet of space for $58.2 million during the second quarter, with a weighted average capitalization rate of 7.9%.
Further, STAG Industrial’s acquisitions amounted to $86.1 million in the first half of the year. Subsequent to quarter-end acquisitions totaled $30.3 million and involved three buildings and further the company had 11 buildings for $141.9 million under contract as of Aug 2, 2016. On the other hand, STAG Industrial reported second-quarter dispositions of $17.8 million involved seven buildings. Its dispositions aggregated $50.6 million for the first six months.
The industrial real estate market has been experiencing solid growth, thanks to the rising Internet retailing as well as supply-chain consolidation. This, in turn, is generating higher demand for logistics infrastructure and efficient distribution networks, providing ample scope to the industrial REITs to leverage growth opportunities.
Currently, STAG Industrial carries a Zacks Rank #3 (Hold).
STAG INDUSTRIAL Price
STAG INDUSTRIAL Price | STAG INDUSTRIAL Quote
Investors interested in the REIT industry may consider stocks like CoreSite Realty Corp. (COR - Free Report) , Washington Real Estate Investment Trust and W. P. Carey Inc. (WPC - Free Report) . Each of these stocks holds a Zacks Rank #2 (Buy).
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