Stag Industrial price target lowered to $36 from $40 at Raymond James

Raymond James lowered the firm’s price target on Stag Industrial (STAG) to $36 from $40 and keeps an Outperform rating on the shares ahead of quarterly results. The firm remains constructive on Stag due to the ongoing portfolio transformation focusing on faster growth markets, multi-tenant properties, and higher quality buildings/tenants; and subsequently improved cost of capital fueling accretive external growth opportunities.