STAG Industrial (STAG) PT Lowered to $39 at RBC Capital

RBC Capital analyst Michael Carroll lowered the price target on STAG Industrial (NYSE: STAG) to $39.00 (from $40.00) while maintaining a Sector Perform rating.

The analyst comments "We are updating our estimates and outlook post the 1Q24 earnings report. STAG delivered a largely in-line report with organic growth tracking inline with expectations and investment activity progress as planned. However, we are slightly lowering our estimates to reflect slower leasing environment and reducing our price target to $39/share to reflect higher interest rates. Our rating is unchanged."

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