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 (NYSE: PLD) reported Q2 2022 net earnings per diluted share of $0.82, slightly up from $0.81 in Q2 2021. Core FFO per diluted share rose to $1.11 from $1.01 year-over-year. With a 97.6% average occupancy rate, the company commenced leases totaling 51.3 million square feet. Notably, net effective rent increased by 45.6%, driven mainly by the U.S. Prologis maintains strong liquidity with approximately $5.2 billion on hand and revised its 2022 net earnings guidance to $5.15 to $5.25 per diluted share, reflecting a 5.6% increase.
Prologis, Inc. (NYSE: PLD) will host a webcast and conference call on July 18, 2022, at 9:00 a.m. PT to discuss its second quarter results, market conditions, and future outlook. Investors can participate via phone or through the webcast available on the company's website. A telephonic replay will be accessible from July 18 to August 1. As of March 31, 2022, Prologis managed properties totaling approximately 1.0 billion square feet across 19 countries, serving around 5,800 customers.
Cedar Fair (NYSE: FUN) has announced the sale of its California's Great America amusement park land to Prologis (NYSE: PLD) for approximately $310 million, retaining a long-term lease for continued operation. This transaction is part of a strategic review aimed at maximizing asset value, allowing Cedar Fair to focus on reducing debt and reinvesting in high-return projects. The company aims to reach a $2 billion debt target and plans to reinstate quarterly unitholder distributions by Q3 2022, pending board approval.
Prologis (NYSE: PLD) has announced a commitment to achieve net zero emissions across its value chain by 2040, with interim targets including 1 GW of solar capacity by 2025 and net zero operations by 2030. The company has been carbon neutral for scope 1 and 2 emissions since 2019. Its recent 2021-22 ESG report highlights several initiatives such as the installation of 325 MW of solar and investments in energy services, including EV charging stations. Prologis aims to support its customers' sustainability goals while reinforcing its industry leadership in green initiatives.
Prologis (NYSE: PLD) has announced a definitive merger agreement to acquire Duke Realty (NYSE: DRE) in an all-stock transaction valued at approximately $26 billion, including debt assumption. Both boards unanimously approved the deal. Prologis gains high-quality properties across key U.S. logistics markets, totaling 153 million square feet. The transaction is expected to create immediate cost savings of $310-$370 million and increase annual core funds from operations by $0.20-$0.25 per share in the first year. The merger is anticipated to close in Q4 2022, pending shareholder approval.
Prologis, the logistics real estate leader, announced that CFO Tim Arndt will present at REITWeek 2022 on June 8 at 3:30 p.m. ET in New York. The 30-minute session will be accessible via live webcast, available for 90 days. An updated Investor Presentation will be released on June 7. As of March 31, 2022, Prologis manages approximately 1.0 billion square feet of properties across 19 countries, serving around 5,800 customers in business-to-business and retail/online fulfillment sectors.
Prologis has proposed an all-stock acquisition of Duke Realty, offering 0.466 shares of Prologis for each Duke Realty share, valuing it at $61.68—representing a 29% premium over Duke's previous closing price. CEO Hamid R. Moghadam emphasizes significant growth potential and synergies from the merger, citing a strong track record of successful acquisitions. Prologis has sought engagement since November 2021, but Duke Realty has not substantively responded. The transaction promises immediate value and long-term benefits for shareholders.
The Board of Directors of Prologis declared a cash dividend of $0.79 per share for Q2 2022, to be paid on June 30, 2022. Shareholders of record by June 16, 2022 will receive this dividend. Additionally, a dividend of $1.0675 for the Series Q Cumulative Redeemable Preferred Stock will also be paid on the same date to record holders by June 17, 2022. At its 2022 annual stockholder meeting, Prologis elected 11 directors and approved executive compensation and the appointment of KPMG LLP as auditors.
Terreno Realty Corporation (NYSE: TRNO) declared a cash dividend of $0.34 per common share for the quarter ending June 30, 2022, payable on July 14, 2022. This dividend reflects the company's commitment to returning value to shareholders. Additionally, the quarterly report for the period ending March 31, 2022 has been filed with the SEC. The company also promoted Melinda Weston to Chief Accounting Officer, effective May 3, 2022, strengthening its management team.
Prologis, Inc. (NYSE: PLD) reported robust first-quarter results for 2022, with net earnings per diluted share at $1.54, up from $0.49 a year prior. Core FFO per diluted share increased to $1.09 from $0.97. Average occupancy was strong at 97.4%, with net effective rent growth of 37.0%. The company raised its 2022 guidance for net earnings to $4.85 to $5.00, reflecting a 10.1% increase. Liquidity remains strong with $6.8 billion on hand. Prologis is participating in the Biden Administration's supply chain initiative, enhancing its industry standing and operational performance.
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