Stag Industrial price target lowered to $38 from $41 at Wells Fargo

Wells Fargo lowered the firm’s price target on Stag Industrial (STAG) to $38 from $41 and keeps an Equal Weight rating on the shares. The firm notes 40 REITs it covers reported this week with 24 beats, 3 misses and 13 meets. 27 bumped 2024 guidance, 2 cut, 9 maintained. On average, reporting companies underperformed REITs by -50 bps the day they reported and -140 bps through Friday midday, Wells adds.