Ushering in good news for its Southern California platform,
industrial real estate investment trust (REIT),
) disclosed the leasing of an 800,000 square foot logistics
facility to a national retailer in the Inland Empire region.
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PROLOGIS INC (PLD): Free Stock Analysis
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Positioned at the Prologis Park Redlands Distribution Center with
direct access to Interstate 10, this speculative development is
now fully stabilized. It reflects the strong demand for
high-quality logistic facilities in this market. The company has
a notable land bank and a 33.1 million square foot operating
portfolio in this market to cater to the growing need for such
With around 56.8 million square feet of logistics and
distribution space as of Sep 30, 2013, Prologis is the leading
provider of industrial real estate in Southern California.
We believe that with a growing customer base, rise in e-Commerce
application and supply chain consolidation, there is an
increasing demand for Class-A facilities and Prologis stands to
benefit as it has the capacity to offer modern distribution
facilities in strategic infill locations.
Prologis is scheduled to announce its fourth-quarter 2013 results
on Jan 30. The Zacks Consensus Estimate for fourth-quarter funds
from operations (FFO) is currently pegged at 42 cents per share,
representing a year-over-year increase of 1.1%.
for Prologis is +2.38 %. This is because the Most Accurate
estimate stands at 43 cents while the Zacks Consensus Estimate is
lower at 42 cents. In addition, Prologis' Zacks Rank #3 (Hold)
enhances the predictive power of ESP. This combination of its
Zacks Rank and Earnings ESP makes us confident of an earnings
surprise call in the to-be-reported quarter.
Investors interested in the REIT industry may also consider
Getty Realty Corp.
National Health Investors Inc.
Pebblebrook Hotel Trust
). All these stocks carry a Zacks Rank #1 (Strong Buy).
FO, a widely used metric to gauge the performance of REITs,
are obtained after adding depreciation and amortization and other
non-cash expenses to net income.