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 will host the Groundbreakers 2022 event on October 25, 2022, from 9:00 AM to 12:30 PM ET at Hudson Yards, NYC, with global livestreaming. The event focuses on future issues in supply chain logistics, featuring industry leaders like Hamid Moghadam, Dave Clark, and Annette Clayton. Attendees will explore topics such as innovation, leadership, and renewable energy. This event aims to galvanize discussions around the evolving landscape of logistics and supply chain management.
Prologis, Inc. (NYSE: PLD) announced the final results of its exchange offers for Duke Realty Notes, with valid tenders reaching approximately $3.23 billion out of a total $3.375 billion offered. The exchange was contingent upon the successful merger with Duke Realty Corporation, which was completed on October 3, 2022. All required consent conditions were met, with the settlement date for exchanges expected on October 6, 2022.
Prologis has successfully completed its all-stock acquisition of Duke Realty, valued at approximately $23 billion, enhancing its presence in key U.S. markets. This acquisition adds 142 million square feet of operational logistics buildings and over 500 new customers. Prologis aims to leverage its Essentials platform to support these customers and address supply chain challenges. The deal also includes properties in major regions and anticipates further earnings growth and operational synergies.
On September 28, 2022, Prologis and Duke Realty announced the successful approval of their merger by stockholders at special meetings. Over 99% of Prologis voters approved the issuance of stock for the merger, while 99% of Duke Realty shareholders voted in favor of the agreement. Each Duke Realty share will convert to 0.475 shares of Prologis upon merger completion, which is anticipated in early October, conditional on customary closure requirements. This merger aims to enhance Prologis's presence in the logistics real estate sector.
Prologis, Inc. (NYSE: PLD) will hold a webcast and conference call on October 19, 2022, at 9:00 a.m. PT to discuss its third quarter results and market outlook. Investors can participate via a toll-free number or through a live webcast on their website. A replay of the call will be available until November 2. As of June 30, 2022, Prologis owned or had investments in logistics properties totaling approximately 1.0 billion square feet in 19 countries, serving about 5,800 customers.
Prologis, Inc. (NYSE: PLD) reported early results from its exchange offers for Duke Realty Notes, with approximately $3.22 billion tendered by the early expiration date. The exchange offers will expire on October 4, 2022. The company has received the necessary consents to amend the Duke Realty Indentures, contingent upon the merger with Duke Realty Corporation being completed. Amendments to the notes will provide less restrictive terms for holders. Exchange offers aim to allow Duke Realty Notes holders to exchange their notes for Prologis Notes.
Prologis, Inc. (NYSE: PLD), a leader in logistics real estate, announced CFO Tim Arndt's participation at two upcoming conferences in New York City. He will present at the Barclays 2022 Global Financial Services Conference on September 12 at 10:30 a.m. ET and the BofA Securities 2022 Global Real Estate Conference on September 13 at 1:25 p.m. ET. Both presentations will be accessible via live audio webcast on their investor relations website. As of June 30, 2022, Prologis owns or has investments totaling approximately 1.0 billion square feet across 19 countries.
Prologis, Inc. (NYSE: PLD) has declared a regular cash dividend for Q3 2022. A dividend of $0.79 per share will be paid on September 30, 2022, to shareholders of record on September 15, 2022. Additionally, a dividend of $1.0675 per share for the 8.54% Series Q Cumulative Redeemable Preferred Stock will also be disbursed on the same date to Series Q stockholders of record on September 15, 2022. Prologis continues to lead in logistics real estate, owning approximately 1.0 billion square feet across 19 countries.
Prologis, Inc. (PLD) announced the commencement of exchange offers for outstanding notes of Duke Realty Limited Partnership, totaling up to $3.375 billion. The exchange involves nine series of Duke Realty Notes being swapped for corresponding Prologis Notes. Each Prologis Note will have the same terms as the Duke Realty Notes. Holders tendering by September 14, 2022, will receive additional consideration, while those tendering later will not. The completion of these exchanges is contingent on the merger with Duke Realty Corporation, expected in Q4 2022.
Prologis (NYSE: PLD) announced a special meeting for stockholders to vote on the proposed merger with Duke Realty on September 28, 2022, at 9:00 a.m. PT. Stockholders recorded as of August 8, 2022, are eligible to vote. Prologis is a leader in logistics real estate with approx. 1.0 billion square feet of properties across 19 countries, serving around 5,800 customers. Duke Realty operates approximately 167.3 million rentable square feet in major logistics markets. The merger informs strategic growth in the logistics sector.
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