Prologis is expanding into the data center sector.Prologis (PLD 1.87%) is the largest publicly traded real estate investment trust (REIT). It operates 1.2 billion square feet of warehouse space across several global markets. It's one of the biggest players in global trade (2.8% of global GDP flows through its distribution centers each year). The leading industrial REIT's dominance in logistics is one of the top reasons I own the stock. However, it recently began leveraging its massive land position and ener ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number: 001-13545 (Prologis, Inc.) 001-14245 (Prologis, L.P.) Prologis, Inc. Prologis, L.P. (Exact name of registrant as spe ...

Hiroshi Watanabe/DigitalVision via Getty Images Investment Thesis I bought a certain stake of shares around the time of my last publication on Prologis (NYSE:PLD). That was my first position in the Company and I consider adding more despite its recent stock price increases. Despite a decrease in occupancy rate, it is still solid given the market headwinds, which are likely to turn around in 2025. Moreover, PLD achieved high rent bumps, increased its 2024 acquisition volume and core FFO guidance, and has ...

Key TakeawaysPrologis, the world’s largest industrial real estate company, said that despite subdued customer demand, it sees an improvement ahead and boosted its full-year outlook.The real estate investment trust (REIT) also reported better-than-expected core funds from operations when it released second-quarter earnings Wednesday.Chief Financial Officer Timothy Arndt said Prologis is capitalizing on a "wide range" of growth opportunities. Prologis (PLD) shares gained Wednesday as the world’s largest indus ...

MEXICO CITY, July 17, 2024 /PRNewswire/ -- FIBRA Prologis (BMV:FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, today reported results for the second quarter 2024.HIGHLIGHTS FROM THE QUARTER: Net effective rents on rollover were 58.1 percent.Period-end and average occupancy were 98.4 and 98.6 percent, respectively.Customer retention was 65.8 percent.Same store cash NOI was 11.9 percent.Net earnings per CBFI was Ps. 0.7770 (US$0.0470) for the quarter compared with Ps. 3. ...

Financial Data and Key Metrics Changes - Core FFO, excluding promotes, was $1.36 per share, and including net promote expense was $1.34 per share [8] - Global occupancy at the company's share ended the quarter at 96.5%, outperforming the market by over 320 basis points [8][9] - Same-store growth was 7.2% on a cash basis and 5.5% on a net effective basis [10] Business Line Data and Key Metrics Changes - The company leased 52 million square feet in its portfolio, a 27% increase over the first quarter [7] - Net effective rent change was nearly 74% based on commencement and 64% based on new signings [9] - The company deployed over $700 million into new development projects and acquisitions during the quarter [10] Market Data and Key Metrics Changes - The southeastern U.S. and Latin America are highlighted as healthy markets, with demand momentum particularly strong for larger spaces [25] - Effective market rents globally declined 2% during the quarter, with 75% of the decline attributed to Southern California [13] - The company expects vacancies in U.S. and European markets to peak over the next few quarters [12] Company Strategy and Development Direction - The company is maintaining its forecast for average occupancy, same-store growth, and development starts [16] - The guidance for acquisitions has been increased to a range of $1 billion to $1.5 billion, and for dispositions to $2.75 billion to $3.65 billion [17] - The company is optimistic about its data center business, having secured 1.3 gigawatts of power, with significant progress in its five-year outlook for $7 billion to $8 billion of total investment [15][66] Management's Comments on Operating Environment and Future Outlook - Management noted that while decision-making remains slow, there is strong proposal activity and leasing activity [22] - The company anticipates that the Southern California market will stabilize within 12 months, while other markets may recover sooner [74] - Management expressed confidence in the long-term strength of the business despite current uncertainties in the economic environment [74] Other Important Information - The company raised $1.2 billion of debt at a weighted average rate of 4.4% and launched a $1 billion commercial paper program [11] - The installed capacity of the solar energy business is now at 524 megawatts, with an additional 134 megawatts under construction [10] Q&A Session Summary Question: Has the momentum in occupancy and rent spreads continued into the third quarter? - Management confirmed that momentum has been maintained, with strong proposal and leasing activity, particularly in renewals [22] Question: Can you discuss demand differences across size ranges and geographies? - The healthiest demand is seen in the southeastern U.S., Latin America, and Europe, with larger spaces (over 100,000 square feet) showing the best momentum [25] Question: What are the expectations for rent growth in the back half of the year? - Management expects modest declines in effective rents over the next 12 months, particularly influenced by the Southern California market [30] Question: Can you provide more detail on lease proposals and their context? - The increase in lease proposals is primarily for new leasing, with a significant uptick in nominal proposals due to increased vacancy [33] Question: How does the pace of development stabilization compare to guidance? - Development leasing has slowed, but the overall development portfolio is trending towards long-term margins of 24% to 25% [37] Question: What is the outlook for the transaction market? - The transaction market is normalizing, with increased activity and multiple offers for well-located core products [44] Question: How is the company addressing the impact of tariffs on trade and industrial real estate? - Management believes that while tariffs may create inflationary pressures, the overall demand for industrial real estate will remain stable [78]

Prologis, Inc. (PLD) reported second-quarter 2024 core funds from operations (FFO) per share of $1.34, outpacing the Zacks Consensus Estimate by a penny. This compares unfavorably with the year-ago quarter’s figure of $1.83.Reflecting the positive sentiments of investors, shares of the company gained more than 5% during the initial hours of today’s trading session. The quarterly results reflect a rise in rental revenues and healthy leasing activity. However, high interest expenses are an undermining factor. ...

Most investors have been trying to squeeze the last leg in the technology sector rally, risking getting caught in the top of artificial intelligence names like NVIDIA Co. NASDAQ: NVDA, which is now rejecting a new all-time high as news hit the market that the U.S. will increase technology bans and embargoes further against China, which will hurt semiconductor stocks.Prologis TodayPLDPrologis$128.59 +7.10 (+5.84%) 52-Week Range$96.64▼$137.52Dividend Yield2.99%P/E Ratio37.60Price Target$129.94Add to Watchlist ...

For the quarter ended June 2024, Prologis (PLD) reported revenue of $1.85 billion, up 12.2% over the same period last year. EPS came in at $1.34, compared to $1.31 in the year-ago quarter.The reported revenue represents a surprise of -0.15% over the Zacks Consensus Estimate of $1.86 billion. With the consensus EPS estimate being $1.33, the EPS surprise was +0.75%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectatio ...

Prologis (PLD) came out with quarterly funds from operations (FFO) of $1.34 per share, beating the Zacks Consensus Estimate of $1.33 per share. This compares to FFO of $1.83 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 0.75%. A quarter ago, it was expected that this industrial real estate developer would post FFO of $1.28 per share when it actually produced FFO of $1.28, delivering no surprise.Over the last four quarters, the co ...