STAG Industrial CEO Expects Acquisition Pace to Accelerate
Ben Butcher, chairman, president and CEO of STAG Industrial, Inc. (NYSE: STAG), joined REIT.com for a video interview at REITWeek 2017: NAREIT’s Investor Forum at the New York Hilton Midtown.
Following the acquisition of 11 properties in the first quarter, Butcher said the pace of purchases is likely to accelerate.
Butcher attributed the uptick to an improving cost of capital and “pretty plentiful” opportunities to buy assets. Butcher said STAG has targeted the purchase of about 25 properties in the second quarter.
Butcher noted that while STAG is always interested in selling assets at a premium, the company is not an active seller at this time.
Meanwhile, Butcher attributed the 5 percent gain in funds from operations (FFO) in the first quarter to the company’s cost of capital and the accretive nature of the acquisitions made.
Published at Thu, 22 Jun 2017 14:03:38 +0000