Market Overview

UPDATE: Evercore Partners Downgrades Stag Industrial to Equal-Weight, Reiterates $20 PT

Share:
Related STAG
Is It Really Time To Sell STAG Industrial REIT?
STAG Industrial Announces ATM Activity For June 2015 And Second Quarter 2015
CFO, EVP and Treasurer of Stag Industrial Inc. Buys 5,000 Shares Of Company Stock (GuruFocus)

In a report published Wednesday, Evercore Partners downgraded its rating on Stag Industrial (NYSE: STAG) from Overweight to Equal-Weight, and reiterated its $20.00 price target.

Evercore Partners noted, “STAG was recently added to the MSCI REIT Index (RMZ) – which was announced on November 19th and became effective December 3rd. Shares are up over 13% since just prior to the announcement versus REITs up 3% - significant recent outperformance. STAG shares are up year to date over 63% on a price basis and over 73% on a total return basis, significantly outperforming REITs up 11% on price and 14% total return. STAG shares are now just 6% below our $20 price target. We believe STAG shares are poised to take a breather here, and accordingly we move our rating from Overweight to Equal-Weight. No change to our estimates or price target.”

Stag Industrial closed on Tuesday at $18.80.

Latest Ratings for STAG

DateFirmActionFromTo
Jul 2015UBSDowngradesNeutralSell
Jun 2015Bank of AmericaDowngradesBuyNeutral
Apr 2015DA DavidsonInitiates Coverage onNeutral

View More Analyst Ratings for STAG
View the Latest Analyst Ratings

Posted-In: Evercore PartnersAnalyst Color Downgrades Analyst Ratings

 

Related Articles (STAG)

Get Benzinga's Newsletters