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 ...

FOR IMMEDIATE RELEASE Prologis Reports Second Quarter Results Demand improves amid uncertain macroeconomic environment SAN FRANCISCO (July 17, 2024) – Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today reported second quarter results for 2024. Net earnings per diluted share was $0.92 for the second quarter of 2024 compared with $1.31 for the second quarter of 2023. The results for the second quarter of 2023 include $0.58 per diluted share attributable to Net Promote Income from ou ...

Demand improves amid uncertain macroeconomic environmentSAN FRANCISCO, July 17, 2024 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today reported second quarter results for 2024.Net earnings per diluted share was $0.92 for the second quarter of 2024 compared with $1.31 for the second quarter of 2023. The results for the second quarter of 2023 include $0.58 per diluted share attributable to Net Promote Income from our Strategic Capital business, while the results for ...

Wall Street analysts expect Prologis (PLD) to post quarterly earnings of $1.33 per share in its upcoming report, which indicates a year-over-year decline of 27.3%. Revenues are expected to be $1.86 billion, up 12.3% from the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 0.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Ahead of a co ...

olm26250Article Thesis Prologis, Inc. (NYSE:PLD) is a leading logistics real estate investment trust that is currently trading with one of the highest dividend yields in recent memory. While the valuation is not especially low, the company deserves a premium valuation thanks to its strong track record and convincing longer-term outlook. With interest rates likely declining in the coming quarters and years, Prologis could be an attractive income investment right here. Company Overview Prologis, Inc. is a ...

Prologis (PLD) closed at $116.54 in the latest trading session, marking a +1.83% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 1.02% for the day. Meanwhile, the Dow gained 1.09%, and the Nasdaq, a tech-heavy index, added 1.18%.The the stock of industrial real estate developer has risen by 2.57% in the past month, leading the Finance sector's loss of 5.14% and undershooting the S&P 500's gain of 4.44%.Investors will be eagerly watching for the performance of Prologis in ...