Why Stag Industrial Stock Lost 32% in 2022
Real estate investment trust (REIT) Stag Industrial (NYSE: STAG) was an early winner during the pandemic. The stock nearly doubled off of its early-2020 low as a shift to e-commerce led to demand for more warehouse space.
But the "great reopening" post-pandemic stalled the momentum, and concerns about an economic slowdown weighed heavily on the shares in 2022. Shares of Stag Industrial lost 32.6% for the year, according to data provided by S&P Global Market Intelligence, giving back most of the gains since the start of 2020.
Stag is a REIT focused on industrial properties, with a portfolio of more than 560 buildings with 111.6 million square feet of usable space in 41 states. Much of its portfolio is warehouse space, and when retailers rushed to build out their e-commerce capabilities in the early days of the pandemic, Stag saw demand for its properties surge higher.
Source Fool.com
