Prologis Inc. - PLD STOCK NEWS

Prologis, Inc. (NYSE: PLD) has launched two major electric truck charging sites to assist Performance Team in electrifying its commercial fleet. Located in Southern California, these installations will charge up to 38 Volvo VNR Electric trucks with over 4 megawatts of capacity. The Prologis Mobility platform provides a seamless, cost-effective solution, enabling clients to focus on sustainability without upfront costs. California aims for all heavy-duty trucks to be zero-emissions by 2045, prompting logistics firms to adopt similar goals. This initiative underlines Prologis's commitment to supporting the logistics industry's transition to electric vehicles.

Prologis hosted its annual GROUNDBREAKERS forum on October 25, 2022, in New York, gathering leaders in logistics and supply chain transformation. The event emphasized the need for customer-centric, sustainable solutions in the global supply chain. Discussions included technology investments for growth, the importance of ESG commitments, and the future of clean energy. Prologis owns approximately 1.0 billion square feet of logistics real estate across 19 countries, serving around 5,800 customers.

Prologis, Inc. (NYSE: PLD) reported a strong Q3 2022, with net earnings per diluted share at $1.36, rising from $0.97 in Q3 2021. Core FFO per diluted share also increased to $1.73, compared to $1.04 a year earlier. The company’s acquisition of Duke Realty, completed on October 3, is expected to enhance growth despite a cautious outlook due to economic conditions. Prologis lowered its 2022 earnings guidance to between $4.25 and $4.30 per share, reflecting a 17.8% decrease. Their balance sheet remains strong with $5.3 billion in liquidity.

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.