STAG - Analyst Cautions On STAG Industrial's Growth Downgrades Despite Strong Earnings | Benzinga
RBC Capital Markets analyst Michael Carroll lowered the rating on Stag Industrial Inc (NYSE: STAG) to Sector Perform (from Outperform) and a reduced price target of $39 (from $42).
The company reported Q3 FY23 rental income of $177.8 million, beating the consensus of $174.2 million, and Core FFO per share of $0.59 came higher than $0.57 a year ago.
While the analyst is still encouraged by STAG's current position in the market, given its stronger organic growth prospects (vs. historical trends), he says this positive outlook is likely already ...