After a Brief Pause, This Brilliant High-Yield Dividend Stock Has Restarted Its Acquisition Growth Engine
Stag Industrial (NYSE: STAG) is a serial acquirer. The real estate investment trust (REIT) has historically bought $750 million of income-producing industrial properties annually over the last eight years. Those deals have grown its portfolio and cash flow, enabling it to steadily increase its dividend.
Surging interest rates forced the industrial REIT to largely pause its acquisition growth strategy in recent quarters. However, the company significantly ramped up purchases in the third quarter. The reacceleration of dealmaking should give the company the fuel to continue growing its monthly dividend, which has risen to an attractive 4.6% yield.
Stag Industrial started slowing its acquisition pace late last year. It bought about eight properties per quarter through the first nine months of 2022, investing an average of over $150 million per quarter. However, its acquisition pace slowed to a crawl during the fourth quarter when it only bought one property for $8.1 million.
Source Fool.com
STAG Industrial Inc. Stock
Currently there is a rather positive sentiment for STAG Industrial Inc. with 4 Buy predictions and 0 Sell predictions.
With a target price of 37 € there is a slightly positive potential of 11.55% for STAG Industrial Inc. compared to the current price of 33.17 €.
