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 reported Q1 2023 results, with net earnings per diluted share at $0.50, a decline from $1.54 in Q1 2022 due to fewer gains on dispositions. However, Core FFO per diluted share rose to $1.22, up from $1.09 a year earlier. The company noted strong demand despite some decision-making delays, maintaining a 98.0% average occupancy and a record 11.4% cash same-store NOI. Future guidance includes an increase in net earnings to $3.10 to $3.25 per diluted share and Core FFO of $5.42 to $5.50. Prologis holds a robust liquidity position of $6.7 billion, with minimal debt maturities until 2026, indicating solid financial health despite economic uncertainties.
Prologis, Inc. (NYSE: PLD) will hold its annual stockholders meeting on May 4, 2023, at 1:30 p.m. PT via virtual webcast. Stockholders of record as of March 7, 2023 are invited to attend. The meeting can be accessed through the annual shareholder meeting link.
Prologis is a global leader in logistics real estate, managing around 1.2 billion square feet of properties across 19 countries. The company serves approximately 6,600 customers with modern logistics facilities.
Prologis, Inc. (NYSE: PLD) will host a webcast and conference call on April 18, 2023, at 9:00 a.m. PT to discuss its first quarter results, current market conditions, and future outlook. The live call can be accessed by dialing +1 (877) 897-2615 or via webcast on the company's website. A replay will be available until May 2, 2023. As of December 31, 2022, Prologis owned or had investments in properties totaling approximately 1.2 billion square feet across 19 countries, serving around 6,600 customers in logistics real estate.
On March 3, 2023, Prologis, Inc. (NYSE: PLD) announced its participation in two upcoming industry conferences. Hamid Moghadam, Dan Letter, and Tim Arndt will present at the Citi 2023 Global Property CEO Conference on March 6 at 3:00 p.m. ET in Hollywood, Florida, discussing market conditions and the company's outlook. Additionally, Tim Arndt will address the Raymond James & Associates' 44th Annual Institutional Investors Conference on March 8 at 8:05 a.m. ET in Orlando, Florida. Both presentations will be available via live audio webcast on Prologis' investor relations website.
Prologis is a global leader in logistics real estate, owning approximately 1.2 billion square feet of properties in 19 countries, serving around 6,600 customers.
The Board of Directors of Prologis (NYSE: PLD) has approved a 10% increase in the annualized dividend, raising it to
On January 26, 2023, Prologis announced the tax treatment for Duke Realty Corporation's (DRE) 2022 distributions following its $23 billion acquisition, which completed in October 2022. Each Duke Realty share converted to 0.475 of Prologis shares. Holders of Duke Realty stock will receive IRS Form 1099-DIV for tax reporting via Equiniti, with guidance to consult tax advisors for implications. Key dates for cash distributions include February 16 and May 16, 2022, with amounts of $0.28 per share. The announcement emphasizes Prologis's role in the logistics real estate sector, owning about 1.2 billion square feet of properties worldwide.
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