Prologis, Inc. and Norges Bank Investment Management completed the acquisition of logistics real estate portfolio of 127 properties in US. (2024)

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21:00:02 10/06/2024 BST
5-day change 1st Jan Change
111.2 USD +0.88% Prologis, Inc. and Norges Bank Investment Management completed the acquisition of logistics real estate portfolio of 127 properties in US. (1) +3.51% -16.60%
06-10 Evercore ISI Adjusts Price Target on Prologis to $119 From $123, Keeps In Line Rating MT
06-05 Transcript : Prologis, Inc. Presents at Nareit REIT Week: 2024 Investor Conference, Jun-05-2024 10:15 AM

Prologis, Inc. (NYSE:PLD) and Norges Bank Investment Management signed an agreement to acquire logistics real estate portfolio of 127 properties in US on November 21, 2019. Norges Bank will acquire 45% stake for approximately $896 million valuing the portfolio at $1.99 billion. Prologis will acquire the remaining 55% stake and will manage the properties on behalf of the joint venture. The acquisition is a subset of Prologis’ definitive merger agreement to acquire Industrial Property Trust, Inc. No financing will be involved to fund the transaction. The transaction is expected to be completed in January 2020.Prologis, Inc. (NYSE:PLD) and Norges Bank Investment Management completed the acquisition of logistics real estate portfolio of 127 properties in US on November 21, 2020.

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Latest news about ProLogis, Inc.

Evercore ISI Adjusts Price Target on Prologis to $119 From $123, Keeps In Line Rating MT
Transcript : Prologis, Inc. Presents at Nareit REIT Week: 2024 Investor Conference, Jun-05-2024 10:15 AM
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Prologis, Inc. and Norges Bank Investment Management completed the acquisition of logistics real estate portfolio of 127 properties in US. (2)

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Company Profile

ProLogis, Inc. is the worldwide leader of the detention, the management and the development of industrial of distribution. Net sales break down by activity as follows:- real estate management (85%);- real estate co-investment (14.9%);- other (0.1%): primarily development of real estate assetsNet sales break down geographically as follows: the United States (92.1%), America (2.5%), Europe (3.5%) and Asia (1.9%).

Sector

Commercial REITs

Calendar

16/06/2024 - Détachement de

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Analysis / Opinion

Hamid Moghadam, CEO of Prologis: What real estate strategy for Asia-Pacific? October 25, 2023 at 09:44 am

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Ratings for ProLogis, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

B+

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Analysts' Consensus

Sell

Prologis, Inc. and Norges Bank Investment Management completed the acquisition of logistics real estate portfolio of 127 properties in US. (4)

Buy

Mean consensus

BUY

Number of Analysts

23

Last Close Price

111.2USD

Average target price

131USD

Spread / Average Target

+17.79%

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Quarterly earnings - Rate of surprise

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Sector Industrial REITs

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