FBBPF - FIBRA Prologis Is Twice As Large Post Terrafina Acquisition But Still Expensive
2025-03-01 01:10:32 ET
Summary
- FIBRA Prologis released 4Q24 earnings, showing a combined $270 million in FFO, a low 5.5% yield on a $4.9 billion market cap.
- The company plans to sell 5% of total assets, mainly from Terrafina's non-core portfolio, amid market uncertainties from tariffs and trade agreements.
- Significant debt increase to $2.25 billion for Terrafina acquisition, with $500 million more in maturities by 2027, to be managed through asset sales.
- Valuation concerns due to low vacancy rates and high renewal price risks in an uncertain Mexican industrial real estate market; maintain Hold rating.
FIBRA Prologis ( OTCPK:FBBPF ), FPrologis for short, released 4Q24 earnings, the first financial statements with the combined interest in FIBRA Terrafina ( OTCPK:CBAOF ) owned at 90%....
FIBRA Prologis Is Twice As Large Post Terrafina Acquisition But Still Expensive