KeyBanc Starts ProLogis (PLD) at Hold; A Proxy for Global Growth; Heightened Headline Risk
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Price: $141.03 -0.13%
Rating Summary:
21 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
21 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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KeyBanc initiates coverage on ProLogis (NYSE: PLD) with a Hold.
KeyBanc analyst says, "ProLogis is a large cap industrial REIT that owns and manages 600msf of industrial real estate in 22 countries across the Americas, Europe and Asia. PLD recently completed a merger of equals with AMB Property Corp., creating the largest industrial REIT and one of the largest REITs overall with an equity market cap of $12 billion."
"While the AMB merger has put ProLogis on better footing from a balance sheet perspective and the combined entity offers a more comprehensive global footprint with one of the largest development and investment management platforms, the Company still faces several headwinds, including: 1) merger integration risk; 2) headline risk related to Europe and a broader slowdown in global growth; 3) an aggressive speculative development platform that could be a concern if demand for industrial space slows; and 4) above average leverage..."
For more ratings news on ProLogis click here and for the rating history of ProLogis click here.
Shares of ProLogis closed at $27.12 yesterday.
KeyBanc analyst says, "ProLogis is a large cap industrial REIT that owns and manages 600msf of industrial real estate in 22 countries across the Americas, Europe and Asia. PLD recently completed a merger of equals with AMB Property Corp., creating the largest industrial REIT and one of the largest REITs overall with an equity market cap of $12 billion."
"While the AMB merger has put ProLogis on better footing from a balance sheet perspective and the combined entity offers a more comprehensive global footprint with one of the largest development and investment management platforms, the Company still faces several headwinds, including: 1) merger integration risk; 2) headline risk related to Europe and a broader slowdown in global growth; 3) an aggressive speculative development platform that could be a concern if demand for industrial space slows; and 4) above average leverage..."
For more ratings news on ProLogis click here and for the rating history of ProLogis click here.
Shares of ProLogis closed at $27.12 yesterday.
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