Analyst Eric Borden of BMO Capital maintained a Buy rating on Stag Industrial, reducing the price target to $42.00.
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Eric Borden has given his Buy rating due to a combination of factors, including Stag Industrial’s strong finish to 2025, where it exceeded Core FFO per share expectations and delivered faster cash same-store NOI growth supported by higher same-store occupancy. He also highlights robust leasing performance, with a notable pickup in new leasing volume and solid renewal activity that helped drive cash NOI above prior guidance and demonstrates healthy tenant demand.
At the same time, Borden acknowledges that 2026 Core FFO guidance came in softer than the Street and BMO had anticipated, largely tied to a greater projected decline in occupancy. Even so, he points to the meaningful progress on 2026 lease rollovers and management’s outlook for strong cash leasing spreads as reasons to view the guidance conservatism as manageable, supporting his positive stance on the shares despite an expected near-term pullback.
Borden covers the Real Estate sector, focusing on stocks such as Agree Realty, Stag Industrial, and Realty Income. According to TipRanks, Borden has an average return of 6.0% and a 77.42% success rate on recommended stocks.