VESTF - Logistic Properties Of The Americas: A Great Business At An Awful Price
2024-06-01 09:00:00 ET
Summary
- Shares of Logistic Properties of the Americas experienced extreme volatility after news that it was being added to the Russell Microcap Index.
- The company controls 7.3 million square feet of Class A logistics real estate, primarily focused on the e-commerce market.
- Despite potential for growth, the stock is currently overvalued and the company has high leverage and potential issues with assets in Colombia.
The last couple of days have been a truly wild time for one particular company. The company in question is none other than Logistic Properties of the Americas (LPA), a real estate business that owns industrial properties throughout Central and South America. Shares of the business spiked from $33.01 on May 29th to $258.85 one day later. They then plummeted roughly 49.8% on May 31st, closing at $130.00 apiece. This volatility came about in response to news that the company would be one of seven new real estate firms added to the Russell Microcap Index as part of that index’s annual reconstitution....
Logistic Properties Of The Americas: A Great Business At An Awful Price