PLD - Prologis, Inc.

NYSE - NYSE Delayed Price. Currency in USD
87.32
+0.25 (+0.29%)
At close: 4:03PM EST

87.32 0.00 (0.00%)
After hours: 4:21PM EST

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Trade prices are not sourced from all markets
Previous Close87.07
Open86.97
Bid87.37 x 1800
Ask87.38 x 1100
Day's Range86.83 - 87.58
52 Week Range55.21 - 92.49
Volume1,510,441
Avg. Volume2,476,245
Market Cap55.038B
Beta (3Y Monthly)1.01
PE Ratio (TTM)31.21
EPS (TTM)2.80
Earnings DateJan 20, 2020 - Jan 24, 2020
Forward Dividend & Yield2.12 (2.43%)
Ex-Dividend Date2019-09-19
1y Target Est93.17
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  • PR Newswire

    Prologis to Host Investor Forum in New York City November 5

    SAN FRANCISCO, Nov. 4, 2019 /PRNewswire/ -- Prologis, Inc. (PLD), the global leader in logistics real estate, today announced it will hold an Investor Forum Tuesday, November 5, 2019, from 9:00 a.m.-3:00 p.m. ET in New York. Members of Prologis' executive and senior leadership teams will present an update on the drivers of the global logistics real estate market and provide an in-depth view of Prologis' market position looking ahead. Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets.

  • SHAREHOLDER ALERT: WeissLaw LLP Investigates Liberty Property Trust
    PR Newswire

    SHAREHOLDER ALERT: WeissLaw LLP Investigates Liberty Property Trust

    NEW YORK , Oct. 31, 2019 /PRNewswire/ --  WeissLaw LLP  is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors Liberty Property Trust ("LPT" ...

  • How much Liberty Property executives, investors may make from $12.6B sale
    American City Business Journals

    How much Liberty Property executives, investors may make from $12.6B sale

    Institutional investors along with several executives and board members will potentially reap windfalls from Prologis Inc.’s $12.6 billion acquisition of Liberty Property Trust.

  • Moody's

    Liberty Property Limited Partnership -- Moody's affirms Prologis' ratings at A3 following proposed merger announcement; outlook stable

    Moody's Investors Service ("Moody's") has affirmed all of the ratings of Prologis, Inc.'s ("Prologis") and its subsidiaries, including the A3 senior unsecured rating of Prologis, L.P. The outlook remains stable. Moody's has also placed Liberty Property LP ("Liberty") Baa1 senior unsecured rating on review for upgrade, as Prologis will acquire Liberty in an all-stock transaction, including the assumption of debt.

  • Prologis' $12.6B deal to buy Liberty puts 2M square feet of Tampa Bay industrial space on the market
    American City Business Journals

    Prologis' $12.6B deal to buy Liberty puts 2M square feet of Tampa Bay industrial space on the market

    As part of the acquisition, Prologis will dispose of $3.5 billion in properties across four U.S. markets including Tampa.

  • ETF Trends

    Big Deal For Warehouse REIT Space is Big News For This REIT ETF

    News out Monday that real estate investment trust (REIT) Prologis (NYSE: PLD) will acquire rival Liberty Property Trust (NYSE: LPT) for $12.6 billion ignited a rally in the already high-flying Pacer Benchmark ...

  • Two Companies Are Dominating the Battle for Warehouse Space
    Bloomberg

    Two Companies Are Dominating the Battle for Warehouse Space

    (Bloomberg) -- It’s the year of the warehouse mega-deal, and the two largest players are running away from the pack.Blackstone Group Inc. and real estate investment trust Prologis Inc. are locked in an Amazon-fueled acquisition battle, gobbling up U.S. warehouse space in a bid to profit from rising consumer demand for fast shipping.Together, the two companies have inked warehouse acquisitions worth more than $38 billion in 2019. More than 40% of that total comes from a pair of deals announced in the last month.“There’s a huge amount of demand coming from e-commerce,” said Lindsay Dutch, a Bloomberg Intelligence analyst. “The growth of online shopping and the desire for quick delivery times has really driven a need for more warehouses, especially in the last mile.”When the most recent transactions close, Blackstone and Prologis will own nearly 1.1 billion square feet of warehouse space in the U.S., more than the next 14 largest owners combined, according to data compiled by CBRE Group Inc.Their combined footprint could decrease as the companies dispose of newly acquired assets. Blackstone sold about $3 billion worth of logistics real estate to Nuveen Real Estate in October, and Prologis has said it will sell some assets.On Sunday, Prologis agreed to buy Liberty Property Trust for $9.7 billion, adding 107 million square feet of space in markets including Chicago and Houston. It was the third time in the last 18 months that Prologis has swallowed up a competitor, following deals for DCT Industrial Trust Inc. and Industrial Property Trust Inc.Blackstone, too, has been adding to its warehouse portfolio. In June, the private equity giant agreed to pay $18.7 billion for U.S. logistics owned by Singapore’s GLP Pte., and followed that with a $5.9 billion deal for more logistics space in September. Globally, Blackstone has spent roughly $70 billion on logistics space in recent years.There’s a simple reason the two warehouse giants are winning an outsized share of available deals, said Eric Frankel, an analyst at Green Street Advisors: They have capital available. In the case of Prologis, its scale allows it to pay a premium for property, Frankel said.While online shopping has grown rapidly in recent years, there’s reason to think the e-commerce boom has plenty of room to run. About 20% of sales in consumer electronics and apparel now come online, but only 4% of food and beverage sales happen there, according to eMarketer.Amazon and Walmart are investing billions to automate warehouses and accelerate delivery times, in part to help deliver on pledges they’ve both made this year to get millions of orders to customers’ homes in just one day.Amazon’s shift to next-day delivery “will raise consumers’ expectations,” Morgan Stanley analyst Simeon Gutman said in a note Tuesday. “To avoid losing relevance, retailers might also need to move to one-day delivery.”That could spur more warehouse deals, which accounted for 35% of large real estate transactions over the 12 months ending in September, according to Real Capital Analytics data on sales of portfolios and whole companies. That’s up from 20% in September 2015, as investors shift focus from retail and office deals to industrial real estate.For its part, Prologis is stepping up where competitors are backing off. In August, the chief executive officer for industrial REIT Duke Realty Corp. said that the company preferred investing in its development pipeline rather than paying up for a warehouse portfolio at current prices.Still, the recent run of large warehouse deals can’t go on indefinitely, if only because there aren’t many large portfolios left to buy.“The availability of high-quality portfolios is dwindling,” Prologis CEO Hamid Moghadam said in July.When those assets do hit the market, the company plans to compete for them, Moghadam said, because “we can really squeeze a lot more juice out of those oranges.”To contact the reporters on this story: Patrick Clark in New York at pclark55@bloomberg.net;Matthew Boyle in New York at mboyle20@bloomberg.netTo contact the editors responsible for this story: Craig Giammona at cgiammona@bloomberg.net, Steve DicksonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Benzinga

    What The Truck?!: Price Fixing 3PLs, Prologis Billion-Dollar Buy, Arms Ring Busting Librarians, And Amazon Takes Manhattan

    It's just three days until Halloween but Dooner and Chad are already screamin' about all the spooky happenings in supply chain. It's more trick than treat for price fixing 3PLs, ghoulish arms dealers, ...

  • Five takeaways from Liberty Property Trust's $12.6B sale to Prologis
    American City Business Journals

    Five takeaways from Liberty Property Trust's $12.6B sale to Prologis

    Prologis Inc.’s $12.6 billion acquisition of Liberty Property Trust underscores the appetite for industrial real estate these days by investors and the desire to pick up high quality assets in key hubs in one fell swoop. Warehouse-distribution centers have become the darling of commercial real estate, driving up investment and prices. Prologis saw its stock take a hit, declining by nearly 5% to trade at $86.50.  During a call with analysts, executives at San Francisco-based Prologis (NYSE: PLD) made their case for acquiring Wayne-based Liberty and its 107 million square feet and 5.1 million square feet under development.

  • Barrons.com

    Online Shopping Has Made Warehouses Hot Property. The Prologis Acquisition of Liberty Proves It.

    Warehouses are an increasingly sought-after property type as more shopping goes online. Liberty shareholders will receive a 0.675 times a Prologis share, or around $61 a share, based on Prologis’s Friday close of $90.86. Monday morning, Liberty stock had gained 16% to $58.47.

  • PR Newswire

    ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Liberty Property Trust

    NEW YORK , Oct. 28, 2019 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by Liberty Property Trust (NYSE: LPT) and its board of directors concerning the proposed acquisition ...

  • Benzinga

    Prologis To Acquire Liberty Property Trust

    Logistics real estate and supply chain logistics firm Prologis (NYSE: PLD) will acquire Liberty Property Trust (NYSE: LPT) in an all-stock transaction worth approximately $12.6 billion, both companies announced on October 27. Acquiring Liberty will "deepen" Prologis' presence in markets such as Lehigh Valley in Pennsylvania, as well as Chicago, Houston, central Pennsylvania, New Jersey and southern California, said Prologis, whose headquarters are in San Francisco. "Liberty's logistics assets are highly complementary to our U.S. portfolio and this acquisition increases our holdings and growth potential in several key markets," said Prologis CEO Hamid R. Moghadam.

  • GlobeNewswire

    SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Regarding Whether the Sale of Liberty Property Trust to Prologis, Inc. is Fair to Shareholders

    NEW YORK, Oct. 28, 2019 -- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Liberty Property Trust (“Liberty”.

  • Liberty Property (LPT) to be Sold to Prologis, Q3 FFO Flat Y/Y
    Zacks

    Liberty Property (LPT) to be Sold to Prologis, Q3 FFO Flat Y/Y

    Liberty Property (LPT) agrees to be sold to Prologis in an all-stock deal. Also, with decent leasing activity and encouraging rent growth, the company puts up a decent show in Q3.

  • Are You Looking for a Top Momentum Pick? Why Prologis (PLD) is a Great Choice
    Zacks

    Are You Looking for a Top Momentum Pick? Why Prologis (PLD) is a Great Choice

    Does Prologis (PLD) have what it takes to be a top stock pick for momentum investors? Let's find out.

  • Prologis to Buy Liberty Property in $9.7 Billion Stock Deal
    Bloomberg

    Prologis to Buy Liberty Property in $9.7 Billion Stock Deal

    (Bloomberg) -- Prologis Inc., one of the world’s largest warehouse owners, has agreed to buy Liberty Property Trust in an all-stock transaction valued at $9.7 billion, extending its reach in markets such as Chicago, Houston and Southern California.The transaction gives Liberty stakeholders 0.675 Prologis shares for each Liberty share they own, the companies said in a statement. That represents premium of about 21% based on Friday’s closing prices.Warehouses and logistics facilities -- Liberty’s specialty -- have become a hot part of the real estate market as more shopping moves online and consumers demand quick shipping. Blackstone extended its bet on e-commerce last month, agreeing to buy Colony Capital Inc.’s warehouse unit for $5.9 billion.Prologis itself has been a big acquirer of rivals in recent years.“The deal solidifies that the quickest way to increase exposure to fast-rent-growing warehouses is through M&A,” said Bloomberg Intelligence analyst Lindsay Dutch.Shareholder Land & Buildings Investment Management began pushing Liberty to consider selling itself about a year ago. The firm, led by Jonathan Litt, said last month that a “credible party” had contacted the real estate investment trust with an interest in buying it at $60 a share.“The proposed sale of Liberty Property Trust to Prologis is a great example of maximizing value for all shareholders,” Litt said.The pricing of the deal is similar to Prologis’s purchase of DCT Industrial Trust and its pending takeover of Industrial Property Trust, Dutch said, adding that Liberty would still be the biggest of the three transactions.Including debt, the deal is valued at $12.6 billion. Prologis is buying a portfolio of 107 million square feet of logistics properties that’s owned or managed, as well as buildings under construction and land for future development. It also includes 4.9 million square feet of office space.“Liberty’s logistics assets are highly complementary to our U.S. portfolio, and this acquisition increases our holdings and growth potential in several key markets,” Prologis Chairman and Chief Executive Officer Hamid R. Moghadam said in the statement. “The strategic fit between the portfolios allows us to capture immediate cost and long-term revenue synergies.”Prologis plans to dispose of approximately $3.5 billion of assets on a pro rata share basis, including $2.8 billion of logistics properties and $700 million of office properties.Liberty shares have risen 21% this year, compared with the 55% jump in Prologis shares and a 45% gain for a Bloomberg index of industrial REITs.Liberty may be required to pay a termination fee of as much as $325 million if the deal falls apart.The transaction is expected to close in the first quarter of 2020. Bank of America Corp. and Morgan Stanley advised Prologis, while Goldman Sachs Group Inc. and Citigroup Inc. represented Liberty.(Updates with quote from investor.)\--With assistance from Noah Buhayar, Patrick Clark and Scott Deveau.To contact the reporter on this story: Meghan Genovese in New York at mgenovese@bloomberg.netTo contact the editors responsible for this story: Craig Giammona at cgiammona@bloomberg.net, Linus Chua, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Analysts Rushing To Boost Price Targets On 7 Red-Hot Stocks
    Investor's Business Daily

    Analysts Rushing To Boost Price Targets On 7 Red-Hot Stocks

    Tesla isn't the only stock analysts are warming up to. They're tripping to up price targets on some giant S&P; 500 stocks as earnings season goes on.

  • American City Business Journals

    Liberty Property Trust to be sold in $12.6B deal

    Liberty's work has included reviving the Philadelphia Navy Yard, developing two headquarters buildings for Comcast in Center City and establishing a footprint in Camden.

  • Reuters

    UPDATE 2-Prologis to buy warehouse rival Liberty in $12.6 bln deal

    Warehouse giant Prologis Inc said on Sunday it had agreed to acquire rival industrial real-estate business Liberty Property Trust in a $12.6 billion deal to improve its U.S. presence amid the ecommerce boom. If approved, Prologis said Liberty shareholders would receive 0.675 times a Prologis share for each unit they hold, about $61 a share. Prologis, which has a global footprint, said the all-stock deal including the assumption of debt would deepen its presence in U.S. markets such as Pennsylvania's Lehigh Valley, Chicago, Houston, New Jersey and Southern California.

  • GlobeNewswire

    Prologis to Acquire Liberty Property Trust for $12.6 Billion

    Prologis, Inc. (PLD) and Liberty Property Trust (LPT) today announced that the two companies have entered into a definitive merger agreement by which Prologis will acquire Liberty in an all-stock transaction, valued at approximately $12.6 billion, including the assumption of debt. The board of directors of Prologis and the board of trustees of Liberty have each unanimously approved the transaction. “Liberty’s logistics assets are highly complementary to our U.S. portfolio and this acquisition increases our holdings and growth potential in several key markets,” said Prologis chairman and CEO Hamid R. Moghadam.