In a report released yesterday, Eric Borden from BMO Capital maintained a Buy rating on Stag Industrial, with a price target of $43.00.
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Eric Borden has given his Buy rating due to a combination of factors that highlight Stag Industrial’s strong performance and promising outlook. The company exceeded expectations in the third quarter of 2025, with its Core Funds From Operations per share (FFOps) surpassing both Street and BMO estimates, leading to an upward revision in its full-year guidance. This positive momentum is further supported by robust leasing activity, with 52% of 2026 lease expirations already addressed, marking a significant improvement from the previous year.
Moreover, Stag Industrial’s development leasing has shown considerable progress, with 58% of its development portfolio now leased, up from 40% in the previous quarter. The company also reported an impressive increase in cash leasing spreads, which rose to 27.2% on newly commenced leases. Despite a slight dip in average occupancy, these factors collectively underscore the company’s strong operational execution and potential for continued growth, justifying the Buy rating.