Shares of Stag Industrial Inc. (NYSE:STAG) traded today at $40.13, eclipsing its 52-week high. So far today approximately 245,000 shares have been exchanged, as compared to an average 30-day volume of 1.1 million shares.
Stag Industrial Inc is a real estate investment trust primarily involved in the acquisition and operation of single-tenant industrial properties throughout the United States. The vast majority of the company’s real estate portfolio is comprised of warehouse and distribution buildings. Most of these facilities are located in Midwestern and Eastern U.S. states. Stag Industrial derives nearly all of its income in the form of rental income from its portfolio of warehouse and distribution properties. The company generates most of its rental revenue from its facilities located in Midwestern and Eastern U.S. cities. Stag Industrial’s largest customers include air freight and logistics, automotive, and industrial equipment companies in terms of overall revenue.
Potential upside of 26.2% exists for Stag Industrial Inc., based on a current level of $39.95 and analysts’ average consensus price target of $50.42.
In the past 52 weeks, Stag Industrial Inc. share prices are bracketed by a low of $29.34 and a high of $40.13 and is now at $39.95, 36% above that low price.
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