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) 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.
Prologis, Inc. (NYSE: PLD) announced the redemption of all outstanding 3.375% Notes due February 20, 2024, with a redemption price estimated at 111.8% of the principal amount. This equates to approximately €1,118 per €1,000 in principal, including accrued interest. Following the redemption on March 5, 2021, the bonds will be delisted from the New York Stock Exchange. Prologis, a leader in logistics real estate, manages properties totaling around 984 million square feet globally, focusing on high-growth markets and a diverse customer base.
Prologis (NYSE: PLD) announced that Nippon Prologis REIT, Inc. has priced investment units at 332,962 Japanese yen each. The offering includes 66,700 units for domestic placement and 49,300 units for international placement. The estimated net proceeds of JPY 37.3 billion ($361.1 million) will be used to acquire three Class-A properties valued at JPY 62.2 billion ($600.9 million) from Prologis' Japan portfolio. The transaction is set to close in Japan on February 2, 2021.
Prologis, Inc. (NYSE: PLD) reported Q4 2020 net earnings per diluted share of $0.38, down from $0.61 in Q4 2019, due to reduced gains on asset sales and increased debt costs. However, Core FFO per diluted share rose to $0.95 from $0.84 year-over-year. Average occupancy improved to 95.8%, while leases commenced reached 45 million square feet. The company forecasts 2021 net earnings between $2.36 and $2.52 per diluted share, with Core FFO projected at $3.88 to $3.98 per diluted share, indicating a growth trajectory driven by strong demand in logistics and e-commerce.
Prologis, Inc. (NYSE: PLD) has announced the tax treatment details for the 2020 distributions from Liberty Property Trust (NYSE: LPT) following its all-stock acquisition valued at $13 billion. Liberty common shares were converted to Prologis stock, and dividends from 2020 onwards will be based on Prologis shares. The 2020 quarterly dividend was set at $0.41 per share, with payment made in January 2020. Shareholders can find comprehensive tax information on the Prologis website.
Prologis, Inc. (NYSE: PLD) has announced the tax treatment for its 2020 distributions, affecting common and preferred stockholders. Shareholders will receive an IRS Form 1099-DIV through Computershare. For common dividends, the taxable cash distribution per share is $0.58, with ordinary income of $0.538425. Shareholders should consult a tax advisor for proper reporting, as federal and state tax laws vary. The company continues to lead in logistics real estate, owning around 976 million square feet of properties across 19 countries.
Prologis (NYSE: PLD) announced that Nippon Prologis REIT (NPR) will issue new investment units, with expected net proceeds of JPY 34.3 billion ($331.7 million). NPR aims to use these funds to acquire three Class-A properties valued at JPY 62.2 billion ($600.9 million) from Prologis' Japan portfolio on February 8, 2021. Prologis retains a 15% ownership interest in NPR, which is managed by Prologis' wholly owned subsidiary. The issuance is set to close on February 2, 2021.
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