Prologis, Inc. (PLD - Free Report) consolidated its Europe Logistics Venture 1 (“ELV1”) with its Prologis Targeted Europe Logistics Fund ("PTELF"). Notably, ELV1 is a joint venture with Allianz and its assets are strategically located in high-growth, high barrier European markets in Germany, France and Netherlands, while PTELF is an open-end fund with pan-European presence.
As per the deal, PTELF will acquire ELV1 for Euro 571 million and integrate its assets into the PTELF portfolio. This will fetch Prologis net cash proceeds of around Euro 183 million. This will augment the financial strength of PTELF and offer diversification benefits. Further, this is likely to strengthen Prologis’ relationship with Allianz.
Prologis is a leading industrial real estate investment trust that acquires, develops, operates and manages industrial real estate space in the Americas, Asia and Europe. Prologis currently carries a Zacks Rank #3 (Hold). Over the past 60 days period, the company’s 2016 estimates remained unchanged at $2.57 per share.
Shares of Prologis gained 39.5% in the past one year, outperforming the Zacks categorized REIT and Equity Trust - Other industry which witnessed a gain of 16.4% in the same time frame.
Some better-ranked stocks in the real estate space include FelCor Lodging Trust Incorporated , The GEO Group, Inc. (GEO - Free Report) and Iron Mountain Incorporated (IRM - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FelCor Lodging Trust’s 2016 estimates remained unchanged at 89 cents per share, in the past 60 days.
The GEO Group’ 2016 estimates have moved up 1% to $2.94 per share, in the past 60 days.
Iron Mountain Incorporated’s 2016 estimates have remained unchanged at $1.87 per share, in the 60 days.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Prologis, Inc. (PLD - Free Report) consolidated its Europe Logistics Venture 1 (“ELV1”) with its Prologis Targeted Europe Logistics Fund ("PTELF"). Notably, ELV1 is a joint venture with Allianz and its assets are strategically located in high-growth, high barrier European markets in Germany, France and Netherlands, while PTELF is an open-end fund with pan-European presence.
As per the deal, PTELF will acquire ELV1 for Euro 571 million and integrate its assets into the PTELF portfolio. This will fetch Prologis net cash proceeds of around Euro 183 million. This will augment the financial strength of PTELF and offer diversification benefits. Further, this is likely to strengthen Prologis’ relationship with Allianz.
Prologis is a leading industrial real estate investment trust that acquires, develops, operates and manages industrial real estate space in the Americas, Asia and Europe. Prologis currently carries a Zacks Rank #3 (Hold). Over the past 60 days period, the company’s 2016 estimates remained unchanged at $2.57 per share.
Shares of Prologis gained 39.5% in the past one year, outperforming the Zacks categorized REIT and Equity Trust - Other industry which witnessed a gain of 16.4% in the same time frame.
Some better-ranked stocks in the real estate space include FelCor Lodging Trust Incorporated , The GEO Group, Inc. (GEO - Free Report) and Iron Mountain Incorporated (IRM - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FelCor Lodging Trust’s 2016 estimates remained unchanged at 89 cents per share, in the past 60 days.
The GEO Group’ 2016 estimates have moved up 1% to $2.94 per share, in the past 60 days.
Iron Mountain Incorporated’s 2016 estimates have remained unchanged at $1.87 per share, in the 60 days.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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