Log CP shares fell after warehouse sale announcement

valor.globo.com (Portuguese)

Log CP shares closed down 0.71% today after the company announced the sale of two warehouses. The stock traded at R$21 following the announcement. The company sold the LOG São José dos Pinhais II and LOG Hortolândia warehouses for R$261 million to a real estate fund. These warehouses have a combined gross leasable area of 94,400 square meters. The transaction's gross margin was 34%, and the sale aligns with Log CP's annual divestment plan. Citi analysts noted the sale could imply a capitalization rate of 8.7% and have a neutral recommendation for the stock.


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Log CP shares fell after warehouse sale announcement | News Minimalist