STAG Industrial, Inc. STAG, the Boston, MA-based real estate investment trust (“REIT”) recently declared its acquisition and leasing activities for May 2015 as well as for the five months ended May 31, 2015. The company also announced the at-the-market (“ATM”) stock offering results for May 2015.
STAG Industrial focuses on acquisition, ownership and management of single-tenant industrial properties throughout the U.S. In May 2015, the company acquired three distribution warehouse buildings, two in the state of Tennessee and one in the state of Oklahoma, for around $22 million. The buildings, spanning 497,740 square feet, were 80.3% occupied.
In the five months ending May 31, 2015, STAG Industrial bought 12 industrial buildings, covering an area of 2.4 million square feet, for $140 million. In first-quarter 2015, five buildings were acquired by the company, comprising 1.5 million square feet area, for $97.1 million.
In May 2015, STAG Industrial leased 1,143,915 square feet of space which included 209,295 square feet of new leases, 619,000 square feet of renewal leases and 315,620 square feet of temporary leases. In the five months ended May 31, 2015, STAG Industrial leased a total space of 1,758,588 square feet.
Also, in May 2015, through its ATM program, STAG Industrial issued 440,054 common shares at a weighted average price of $22.11 per share, and generated net proceeds of around $9.6 million. The company utilized the proceeds for funding acquisitions, repaying debts, meeting working capital needs and certain other general corporate purposes.
Currently, STAG Industrial carries a Zacks Rank #3 (Hold).
Investors interested in the REIT industry may consider stocks like Hudson Pacific Properties, Inc. HPP, Strategic Hotels & Resorts, Inc. BEE and Arbor Realty Trust Inc. ABR. All these stocks sport a Zacks Rank #1 (Strong Buy).
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