Company Overview - Prologis, Inc. will participate in the Citi 2025 Global Property CEO Conference, with key executives including Hamid Moghadam, Dan Letter, and Tim Arndt presenting [1][2] - The company will provide an overview of market conditions and future outlook, followed by a Q&A session on March 3, 2025 [2] Events and Presentations - Tim Arndt will also present at the Raymond James & Associates' 46th Annual Institutional Investors Conference on March 4, 2025 [2] - Both presentations will be available via live audio webcast [3] Company Mission and Vision - Prologis emphasizes its role in defining the logistics industry, focusing on creating intelligent infrastructure that connects digital and physical worlds [4] - The company aims to enhance supply chains and promote clean energy solutions, positioning itself as a leader in logistics innovation [4]

Core Insights - FIBRA Prologis reported strong financial results for Q4 and full year 2024, with net earnings per CBFI increasing to Ps. 3.8692 (US$0.1816) for the quarter and Ps. 17.1978 (US$0.9136) for the full year, compared to Ps. 3.1136 (US$0.1770) and Ps. 13.6338 (US$0.7761) in 2023 respectively [3][4] - The company nearly doubled its size through the acquisition of FIBRA Terrafina, enhancing its operational metrics and financial performance [5] - FIBRA Prologis maintained high occupancy rates, with period-end occupancy at 98.3% and average occupancy at 98.1% for 2024 [6] Financial Performance - Funds from operations (FFO) per CBFI for Q4 2024 was Ps. 0.9740 (US$0.0488), up from Ps. 0.8249 (US$0.0469) in Q4 2023, while full year FFO per CBFI was Ps. 3.4507 (US$0.1943) compared to Ps. 3.3502 (US$0.1881) in 2023 [4] - The company reported a liquidity position of approximately Ps. 9.4 billion (US$457 million) as of December 31, 2024, with a leverage ratio of 18.1% [7] Operational Metrics - Customer retention decreased to 71.6% in 2024 from 84.3% in 2023, while net effective rent change increased significantly to 55.4% [6][9] - Same store cash NOI growth was reported at 8.4% for the year, down from 9.4% in 2023 [6] Future Guidance - For 2025, FIBRA Prologis has established guidance for FFO per CBFI between US$0.2000 and US$0.2200, and a distribution per CBFI of US$0.1500, reflecting a 6% increase compared to 2024 [8][10] - The company anticipates year-end occupancy to range between 96.5% and 98.5% for 2025 [10] Portfolio Overview - As of December 31, 2024, FIBRA Prologis' portfolio included 509 investment properties totaling 87.1 million square feet, with 345 logistics and manufacturing facilities across six core markets in Mexico [12] - The company acquired nearly 90% of FIBRA Terrafina's outstanding shares and added US$284 million of Class-A properties to its portfolio [9]

Core Viewpoint - Prologis is set to report earnings that indicate growth, with analysts optimistic about the company's performance despite recent stock price fluctuations [2][3][4]. Group 1: Stock Performance - Prologis closed at $120.97, showing a slight increase of +0.06% while outperforming the S&P 500, which fell by 1.71% [1] - Over the past month, Prologis shares have appreciated by 1.99%, underperforming the Finance sector's gain of 2.23% and the S&P 500's gain of 2.2% [1]. Group 2: Earnings Estimates - Prologis is projected to report earnings of $1.38 per share, reflecting a year-over-year growth of 7.81% [2]. - The consensus estimate for revenue is $1.95 billion, indicating a 6.9% growth compared to the same quarter last year [2]. - For the full year, analysts expect earnings of $5.73 per share and revenue of $8.01 billion, marking changes of +3.06% and +6.56% respectively from the previous year [3]. Group 3: Analyst Estimates and Rankings - Recent adjustments to analyst estimates for Prologis are crucial as they reflect short-term business trends, with positive revisions indicating optimism about the company's profitability [4]. - The Zacks Rank system, which includes estimate changes, currently ranks Prologis at 3 (Hold) [6]. Group 4: Valuation Metrics - Prologis has a Forward P/E ratio of 21.11, which is significantly higher than the industry average of 11.49, indicating it is trading at a premium [7]. - The company has a PEG ratio of 2.7, compared to the industry average PEG ratio of 2.13 [8]. Group 5: Industry Context - The REIT and Equity Trust - Other industry, which includes Prologis, has a Zacks Industry Rank of 163, placing it in the bottom 36% of over 250 industries [9].

Core Viewpoint - Prologis, Inc. has announced a 5% increase in its quarterly cash dividend, raising it to $1.01 per share, reflecting the company's commitment to enhancing shareholder wealth and its strong financial position [1][2]. Dividend Policy - Prologis has consistently increased its dividends, with a 10.3% hike in February 2024 and five increases over the last five years, resulting in a five-year annualized dividend growth rate of 13.66% [2]. - The latest dividend hike results in an annualized amount of $4.04 per share, translating to a dividend yield of 3.3% based on a share price of $120.90 [1]. Financial Performance - In Q4 2024, Prologis commenced 46.5 million square feet of leases with a retention level of 78.4%, maintaining an average occupancy level of 95.6% [4]. - For 2025, management anticipates average occupancy to be between 94.5% and 95.5%, with an estimated occupancy of 94.9% [4]. Rental Income Growth - The company expects a decline in vacancy rates in 2025, leading to rent growth, with projected year-over-year increases in rental revenues of 6.9% for 2025, 6.9% for 2026, and 8.3% for 2027 [5]. Balance Sheet Strength - As of December 31, 2024, Prologis had total available liquidity of $7.38 billion, a weighted average interest rate on total debt of 3.2%, and a debt-to-adjusted EBITDA ratio of 4.6x [6]. - The company's credit ratings were A3 (Outlook Positive) from Moody's and A (Outlook Stable) from Standard & Poor's, indicating strong borrowing capacity [7]. Growth Opportunities - Prologis is well-positioned to capitalize on long-term growth opportunities due to its solid operating platform, financial flexibility, and strategic focus on data center and energy business trends [3][8]. Market Performance - Prologis shares have gained 4.4% over the past three months, contrasting with a 4.5% decline in the industry [9].

Summary of Prologis, Inc. News Core Viewpoint - Prologis, Inc. has announced a 5% increase in its annualized dividend to $4.04 per share of common stock, reflecting the company's commitment to returning value to shareholders [1]. Company Overview - Prologis is a leader in the logistics industry, focusing on creating intelligent infrastructure that supports global commerce by connecting digital and physical worlds [1]. - The company emphasizes agile supply chains and clean energy solutions, aiming to enhance business operations and promote sustainable growth [1]. Dividend Details - A cash dividend of $1.01 per share for common stock will be payable on March 31, 2025, to stockholders of record as of March 18, 2025 [4]. - Additionally, a dividend of $1.0675 per share for the 8.54% Series Q Cumulative Redeemable Preferred Stock will also be payable on March 31, 2025, to Series Q stockholders of record on the same date [4].

Core Viewpoint - Prologis has shown a positive trend in its stock performance, with shares increasing by approximately 5.7% since the last earnings report, outperforming the S&P 500. The upcoming earnings release will be crucial in determining whether this trend continues or if a pullback occurs [1]. Financial Performance - Prologis reported a fourth-quarter 2024 core FFO per share of $1.50, exceeding the Zacks Consensus Estimate of $1.38 and up from $1.26 in the same quarter last year [2]. - Rental revenues for the quarter were $1.94 billion, slightly missing the consensus estimate by 0.09%, but showing an increase from $1.76 billion year-over-year. Total revenues reached $2.2 billion, up from $1.89 billion in the previous year [3]. - For the full year 2024, core FFO per share was $5.56, a decrease of 0.9% from the previous year, but still beating the consensus estimate of $5.45. Rental revenues totaled $7.51 billion, a 10.2% year-over-year increase, although it fell short of the consensus mark of $7.52 billion [4]. Leasing and Occupancy - In the fourth quarter, Prologis commenced 46.5 million square feet of leases, with a retention level of 78.4%. The average occupancy rate was 95.6%, down from 95.9% in the prior quarter and 97.1% year-over-year [5][6]. - The company's share of net effective rent change was 66.3%, with a cash rent change of 40.1%. Cash same-store net operating income (NOI) grew by 6.7%, compared to 7.2% in the previous quarter [6]. Capital Deployment and Acquisitions - Prologis made acquisitions totaling $384 million, with a weighted average stabilized cap rate of 5.9%. Development stabilization reached $827 million, with 54% being built to suit, while development starts totaled $375 million. Total dispositions and contributions were $1.955 billion, with a weighted average stabilized cap rate of 4.4% [7]. Interest Expenses and Liquidity - Interest expenses increased by 33.1% year-over-year to $232.2 million [8]. - The company ended the fourth quarter with cash and cash equivalents of $1.32 billion, up from $780.9 million at the end of the third quarter. Total liquidity was $7.38 billion, with debt representing 25.6% of total market capitalization [9]. 2025 Guidance - Prologis provided guidance for 2025 core FFO per share in the range of $5.65-$5.81, with expected average occupancy between 94.5% and 95.5%. Cash same-store NOI is projected to grow by 4-5%. The company anticipates capital deployment for development starts of $2.25-$2.75 billion and acquisitions of $750 million-$1.25 billion, with dispositions estimated at $1.00-$1.50 billion [11]. Market Sentiment - There has been a downward trend in estimates revision for Prologis over the past month, with the stock currently holding a Zacks Rank 3 (Hold), indicating an expectation of an in-line return in the coming months [12][14].

Core Insights - Dan Letter will succeed Moghadam as CEO of Prologis as part of the company's succession plan, bringing extensive industry experience and a collaborative leadership style [1] - Moghadam, co-founder of Prologis' predecessor, has led the company from a startup to a global leader, emphasizing value delivery to stakeholders [2][3] - The transition is designed to ensure Prologis' continued success, with Moghadam expressing full confidence in Letter's leadership capabilities [3] Leadership Transition - Dan Letter has been with Prologis since 2004 and has held various roles, including president and global head of capital deployment [4][5] - Moghadam's leadership tenure of over 40 years is recognized as transformative, and the board expresses confidence in Letter's ability to guide the company forward [3][5] Company Background - Prologis is a leader in logistics, creating infrastructure that powers global commerce and connecting digital and physical worlds [7] - The company focuses on agile supply chains and clean energy solutions, positioning itself as a unique player in the logistics industry [7]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ | | Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | | --- | --- | --- | --- | ...

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MEXICO CITY, Feb. 7, 2025 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, announced today that its Technical Committee has appointed Gonzalo Portilla, an independent member, as its new Chairman, effective immediately."I am very pleased to see that our Technical Committee has appointed Gonzalo as our new Chair. Gonzalo´s contributions as an independent member have been substantial, and his track record and knowledge of the sector spe ...