|Bid||81.47 x 1200|
|Ask||84.80 x 900|
|Day's Range||80.94 - 85.20|
|52 Week Range||68.96 - 99.79|
|Beta (5Y Monthly)||1.12|
|PE Ratio (TTM)||34.20|
|Forward Dividend & Yield||2.32 (2.68%)|
|Ex-Dividend Date||Mar 12, 2020|
|1y Target Est||N/A|
DEEP DIVE We’re getting close to the end of another earnings season, with 77% of S&P 500 companies reporting their results through Feb. 20. Analysts react not only to actual quarterly results, but to changes in companies’ guidance (if any) for their fiscal years, as well as industry developments, legal or regulatory challenges as well as world events, such as the coronavirus outbreak.
Shares of real estate investment trusts (REITs) were broadly higher Friday, as the relatively high-yielding sector was benefiting from a tumble in Treasury yields. The SPDR Real Estate Select Sector ETF rose 0.4% to be the best performer among the SPDR ETFs tracking the S&P 500's 11 key sectors. The REIT ETF was trading just shy of the Feb. 14 record closing price of $41.88. Among the more-active components, shares of Ventas Inc. rose 0.5%, Prologis Inc. tacked on 0.3% and Digital Realty Trust Inc. advanced 0.6%. Meanwhile, Host Hotels & Resorts Inc. fell 0.9%. The yield on the 30-year Treasury note fell 6.9 basis points toward a record low of 1.904%, amid fears that the coronavirus outbreak's impact on economic growth will not be contained to China. Meanwhile, the yield on the REIT ETF 2.818%, compared with the implied yield on the S&P 500 of 1.82%.
Industrial giant Prologis paid $9 million for a development site in western Miami-Dade County. Jose, Alejandrina and Lizzette Reboredo sold the vacant property of 8.25 acres to the San Francisco-based industrial developer (NYSE: PLD). This site is within the 478-acre Beacon Lakes Industrial Park, where Prologis is the primary developer.
The grocery delivery service signed the lease with Prologis for the new ground-up development back in late 2018.
The contractor of the Comcast Technology Center has filed a countersuit seeking $103 million in damages, claiming the developer of the tower caused delays and subsequent cost overruns as it continued to finalize the design of the Four Seasons component of the building. L.F. Driscoll Co. filed its suit Feb. 10 in the Philadelphia Court of Common Pleas against LPT Holdings Trust, which is an entity that had been part of Liberty Property Trust and is now part of Prologis Inc. The suit comes a week after Liberty Property Limited Partnership, an entity now owned by Prologis, filed a lawsuit against Driscoll seeking $103 million in damages for cost overruns associated with the development of the Comcast Technology Center, or CTC. The countersuit paints a portrait of a project that had not been fully designed when construction commenced and that the contractor did the best it could under the circumstances.
Moody's Investors Service (Moody's) has upgraded the senior unsecured rating of Liberty Property Limited Partnership ("Liberty") to A3 from Baa1, possible upgrade, following its merger with Prologis, L.P. (Prologis A3 senior unsecured debt rating, stable outlook) on February 4, 2020. Prologis is the surviving entity and will assume all of Liberty Property's senior unsecured notes.
The lawsuit claims the general contractor misled the developer, but the contractor counters the developer "lost control of the design process."
Boston Properties' (BXP) lease with Shearman & Sterling reflects the strong demand for its office properties in transit-oriented location and modern amenities.
Prologis Inc. (NYSE: PLD), the world's leading logistics real estate investment trust (REIT), posted on Wednesday solid fourth-quarter and 2019 results, and raised its outlook for 2020. The San Francisco-based company reported that core funds from operations (FFO), the key metric for measuring a REIT's cash flow, came in at 84 cents per diluted share in the fourth quarter, compared with 80 cents per diluted share in the 2018 period. For all of 2019, core FFO was $3.31 a diluted share, compared with $3.03 a share in 2018.
Prologis (PLD) delivered FFO and revenue surprises of 0.00% and -0.40%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
OUTFRONT Media's (OUT) latest contract with the Washington Metropolitan Area Transit Authority to aid the company in benefiting from its presence in a vital and technologically-advanced market.
Prologis' (PLD) Q4 performance expected to reflect benefits from the company's efforts to leverage on the industrial real estate market's solid fundamentals.
Some S&P; 500 companies are routinely beating quarterly profit forecasts by a mile — making them key stocks to watch as quarterly earnings kick off.
Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. Violence in Mexico from organized cartels has been surging in recent weeks, with the latest incident involving a 13-year-old American boy killed Jan. 3 near Nuevo Laredo.
Gladstone's (GOOD) latest buyout in Indianapolis is in line with efforts to boost the company's share to premium industrial buildings in key markets and improve tenant roster with credit-worthy ones.