Baird downgraded STAG Industrial to Neutral from Outperform with a price target of $41, up from $38. After the run-up in shares to close 2023, the firm sees a more balanced risk/reward setup heading into 2024 for the industrial real estate investment trust group. Industrial multiples remain the highest in REITs while the near-term fundamental picture “appears murky” with the interest rate sensitivity impacting valuations and near-term demand, the analyst tells investors in a research note. As such, Baird believes better opportunities will arise later in the year.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on STAG:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue