Logistic Properties of the Americas (NYSE:LPA) shares are trending on Wednesday night.
LPA shares surged 71.01% to $5.37 in after-hours trading on Wednesday after the Peru-based Real Estate Investment Trust announced a $145 million divestment of its flagship Peru logistics asset to FIBRA Prime.
FIBRA Prime is Peru’s leading diversified REIT, listed on the Bolsa de Valores de Lima stock exchange.
$85M In Net Proceeds Headed To Mexico
The deal, which is subject to regulatory approval, includes the acquisition of 100% of Parque Logístico Lima Sur, a 1.3 million square foot logistics park in Lima's Lurín submarket. PLS generated $10.3 million in cash net operating income for the twelve months ended Mar. 31.
After repaying debt, Logistic Properties will receive net proceeds of $85 million. The company plans to reinvest the funds in Mexico over the next 12 to 18 months, focusing on opportunities driven by nearshoring, e-commerce growth and domestic consumption trends.
According to the Wednesday announcement, the transaction supports a book value of approximately $8.00 per ordinary share.
Continued Presence
CEO Esteban Saldarriaga said, “This transaction confirms our platform’s ability to create and realize value across the entire real estate value chain.”
Logistic Properties will continue managing PLS on behalf of FIBRA Prime, while its Peru footprint remains anchored at Parque Logístico Callao, near Jorge Chávez International Airport.
Trading Metrics, Technical Analysis
Logistic Properties has a market capitalization of $99.28 million. The stock has traded between a 52-week high of $7.56 and a 52-week low of $2.04.
Volume for the day surged to 12.45 million shares, approximately 617 times the stock’s average daily volume of 20,170 shares.
The stock has a Relative Strength Index (RSI) of 51.64.
Over the past 12 months, LPA has dropped 54.16%.
The small-cap stock is currently trading at about 20% of its 52-week range, closer to the lower end of its annual range.
Price Action: LPA closed the regular session at $3.14, down 5.71%, according to Benzinga Pro.
Benzinga’s Edge Stock Rankings indicate that LPA is experiencing long-term consolidation along with medium and short-term upward movement.
Photo Courtesy: prassarp on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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