Welcome to our dedicated page for PROLOGIS news (Ticker: PLD), a resource for investors and traders seeking the latest updates and insights on PROLOGIS stock.
Prologis, Inc. (NYSE: PLD) is the world's leading logistics real estate company, headquartered in San Francisco, California. Formed from the merger of AMB Property Corporation and Prologis Trust in June 2011, Prologis focuses on owning, acquiring, developing, and managing high-quality logistics and industrial facilities globally. The company operates as a real estate investment trust (REIT) and manages a portfolio covering approximately 1.2 billion square feet of industrial space across 19 countries.
Prologis strategically segments its operations into four global divisions: Americas, Europe, Asia, and Other Americas. This enables the company to efficiently manage and expand its footprint in high-barrier, high-growth markets. The firm serves around 6,700 customers, predominantly in the business-to-business and retail/online fulfillment sectors.
In addition to its real estate operations, Prologis has a notable strategic capital business segment with around $60 billion in third-party assets under management (AUM). This segment aims to create value through co-investment ventures and capitalizes on strong market conditions to drive growth.
Recent achievements highlight Prologis' commitment to sustainability and innovation. The company has significantly expanded its rooftop solar and storage installations, reaching 500 megawatts of energy capacity, halfway to its goal of 1 gigawatt by 2025. This initiative supports Prologis' broader objective of achieving net zero emissions across its operations by 2040.
In response to economic and geopolitical uncertainties, Prologis maintains a robust balance sheet, with debt constituting 21% of total market capitalization and a weighted average interest rate of 3.1%. The company also hedges against foreign currency fluctuations to stabilize earnings.
Financially, Prologis has demonstrated resilience and growth. For the first quarter of 2024, the company reported net earnings of $0.63 per diluted share and Core Funds from Operations (Core FFO) of $1.28 per diluted share. Prologis' strategic approach and financial prudence ensure its capability to navigate diverse market conditions and sustain long-term growth.
Prologis continually engages with investors and the broader market through initiatives such as its annual Investor Forum and quarterly earnings calls. For instance, the company plans to host its next webcast and conference call on April 17, 2024, to discuss its first quarter results and future outlook.
In addition to its core operations, Prologis is pioneering in the realm of electric vehicle (EV) infrastructure. The company recently launched Southern California’s largest heavy-duty EV charging depot, capable of charging up to 96 trucks simultaneously. This project underscores Prologis' commitment to innovative solutions and environmental sustainability, aiding in the transition to zero-emission transportation.
Prologis, Inc. (NYSE: PLD) announced a partnership with the Association for Supply Chain Management to create a new logistics industry certificate aimed at developing talent. The certificate will launch in Q3 2021, addressing a critical skills gap in warehousing and logistics, which already employs 1.25 million workers in the U.S. The program aims to train 25,000 individuals by 2025, providing foundational logistics skills through an online platform. This initiative aligns with Prologis' commitment to enhancing workforce opportunities and supporting customer needs in a rapidly evolving sector.
The Board of Directors of Prologis (NYSE: PLD) announced the results of its 2021 annual stockholder meeting held on April 30, 2021. Key decisions included the election of 11 directors and the ratification of KPMG LLP as the independent accounting firm for 2021. However, the advisory vote on executive compensation for 2020 did not achieve the necessary favorable votes. Prologis remains committed to strong governance practices and will assess shareholder feedback regarding its executive compensation programs.
The Board of Directors of Prologis declared a quarterly cash dividend of $0.63 per share for common stockholders, payable on June 30, 2021, to those who are on record as of June 16, 2021. Additionally, a dividend of $1.0675 per share for the 8.54% Series Q Cumulative Redeemable Preferred Stock will also be paid on June 30, 2021, to Series Q stockholders on record by June 18, 2021. Prologis is a leader in logistics real estate, operating approximately 990 million square feet across 19 countries.
Prologis (NYSE: PLD) announced the launch of the first LEED v4 for Core and Shell Volume Program, setting stricter sustainability standards in logistics real estate. This initiative builds on their prior LEED Volume Program from 2014, resulting in $24 million savings compared to individual assessments. Prologis aims for 100% sustainable building certification for all new developments yearly. As of March 31, 2021, they own properties totaling around 990 million square feet across 19 countries, serving approximately 5,500 customers.
Prologis, Inc. (NYSE: PLD) reported Q1 2021 net earnings per diluted share of $0.49, down from $0.70 in Q1 2020, primarily due to $187 million in debt extinguishment costs. Core FFO per diluted share rose to $0.97 from $0.83 year-over-year. Despite a slight decline in average occupancy to 95.4%, demand remains strong, with net effective rent increasing by 27%. The company raised its 2021 earnings guidance, projecting net earnings between $2.80 to $2.90 per diluted share, marking a 16.8% increase. Prologis anticipates continuing strong performance in logistics real estate.
Prologis, Inc. (NYSE: PLD) will hold its annual stockholders meeting on Thursday, April 29, 2021, at 1:30 p.m. PT / 4:30 p.m. ET. This virtual meeting is open to stockholders of record as of March 8, 2021. Stockholders can access the live webcast through the provided link. A replay will be available in the Investor Relations section on www.prologis.com. As of December 31, 2020, Prologis is a leader in logistics real estate, managing approximately 984 million square feet across 19 countries.
Prologis, Inc. (NYSE: PLD) will host a conference call and webcast on April 19, 2021, at 9:00 a.m. PT to discuss its first-quarter results and market outlook. The call can be accessed via phone or live webcast on their website. As of December 31, 2020, Prologis held properties totaling approximately 984 million square feet across 19 countries. The company emphasizes its leadership in logistics real estate, catering to a diverse customer base of around 5,500 clients.
Prologis, Inc. (NYSE: PLD) will participate in two upcoming virtual conferences, the Citi 2021 Global Property CEO Conference on March 10 at 11:15 a.m. ET and the BofA Consumer and Technology Conference on March 11 at 12:30 p.m. ET. CEO Hamid R. Moghadam and CFO Thomas S. Olinger will present an overview of the company, discussing market conditions and future outlook at the Citi event. Both sessions will be accessible via webcast for extended periods, and presentation materials will be available on Prologis' Investor Relations website.
Prologis, Inc. (NYSE: PLD) announced a cash dividend of $0.63 per share for the quarter ending March 31, 2021, payable on that date to shareholders of record as of March 19, 2021. Additionally, a dividend of $1.0675 per share will be paid on the Series Q Cumulative Redeemable Preferred Stock. Prologis has maintained a 10-year dividend CAGR of 8.4% since the AMB/ProLogis merger in 2011. The company anticipates generating $1.1 billion in cash flow after dividends in 2021, preserving a payout ratio in the low-60 percent range.
Prologis, Inc. (NYSE: PLD) announced the closing of approx. $2.0 billion in senior unsecured notes to fund a major refinancing initiative. The issuance includes €850 million (approx. $1.0 billion) due in 2032 at a 0.5% coupon, €500 million (approx. $600 million) due in 2041 at a 1.0% coupon, and $400 million due in 2031 at a 1.625% coupon. This transaction will reduce the company's average interest rate by 20 basis points to 1.8% and extend its average debt maturity to 10.6 years. Prologis aims to capitalize on favorable financing conditions to enhance its capital structure.
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