Stag Industrial is a highly-diversified, well-managed, Real Estate Investment Trust (REIT) with a high 7.6% dividend yield.  Despite Stag’s well-run business, it is a higher risk than its industrial REIT peers due to its high-growth, single-tenant, secondary/tertiary investment strategy.  Barring a severe economic downturn, we believe Stag’s growing dividend is safe, and we expect the stock to deliver superior total returns.