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]

Portfolio and Operations - Prologis operates a portfolio of approximately 1.3 billion square feet across 20 countries, focusing on high-barrier, high-growth logistics markets[27]. - The Real Estate Segment contributes 90% to 95% of consolidated revenues, with a weighted average lease term of 64 months for leases commenced in 2024[37]. - Prologis' development business aims to build modern logistics facilities, leveraging strategic locations and sustainable design features to enhance operational efficiencies[38]. - The Strategic Capital Segment generates 5% to 10% of consolidated revenues, primarily through asset management and property management services[40]. - Prologis anticipates sustained demand for logistics facilities due to e-commerce growth, supply chain modernization, and increased consumption[28]. - The company believes its quality portfolio, strategic capital business, and strong balance sheet will drive future growth in revenues, NOI, earnings, and cash flows[42]. - The consolidated land and other real estate investments have the potential to support the development of $36.9 billion of TEI of newly developed buildings[44]. - The gross book value of the operating portfolio held by nine unconsolidated co-investment ventures was $56.3 billion across 548 million square feet as of December 31, 2024[44]. - The company has a portfolio of properties that can support the development of $41.5 billion of TEI of new logistics space on an O&M basis[49]. - At December 31, 2024, the company had more than 4,000 customers occupying 646 million square feet of logistics operating properties[51]. - The top 10 customers represent 15.9% of NER for the consolidated real estate segment, with Amazon being the largest customer[54]. Financial Performance - The company expects earnings growth driven by rolling in-place leases to current market rents, maintaining high occupancy rates, and controlling expenses[37]. - The company has experienced positive rent growth every quarter since 2013, with an estimated lease mark-to-market of approximately 30% on an NER basis[45]. - The company has total available liquidity of $7.4 billion and a weighted average interest rate of 3.1% on consolidated debt as of December 31, 2024[48]. - The weighted average remaining maturity of consolidated debt was 9 years, with a weighted average interest rate of 3.1% as of December 31, 2024[48]. - The company has utilized proceeds from senior notes issuances to finance green projects under its green bond framework[67]. Sustainability and ESG Initiatives - The company has a strong focus on Environmental, Social, and Governance (ESG) principles, integrating them into its business strategy to create value[31]. - The company is focused on sustainability goals, including the utilization of renewable energy sources and sustainable development practices[64]. - 100% of eligible new developments and redevelopments will have LED lighting installed by 2025, with 79% of eligible logistics facilities already equipped as of December 31, 2024[66]. - 1 gigawatt of solar generation and storage capacity is targeted for installation by 2025 within the O&M portfolio, with 626 megawatts already installed by December 31, 2024[66][67]. - 69% of eligible developments and redevelopments received sustainable building certifications in 2024, with a total of 100% scheduled for certification[67]. - The company has exposed to various environmental risks, but no material adverse environmental liabilities have been identified as of December 31, 2024[74]. Community Engagement and Workforce Development - The Community Workforce Initiative aims to train 25,000 individuals by 2025, achieving this goal two years early in 2023[69]. - Approximately 74,300 hours have been contributed towards the goal of 75,000 hours of community support by 2025, as of December 31, 2024[70]. - The participation rate in the employee engagement survey was 92%, with 85% of employees indicating engagement[60]. - The company has onboarded seven new directors over the past ten years, enhancing board diversity[72]. - The company maintains a commitment to ensure 100% of employees complete ethics training annually, achieving this in 2024[73]. - In 2024, over 1,800 employees completed more than 15,400 hours of company-provided or sponsored learning and development training[59]. - The total number of employees as of December 31, 2024, is 2,703, with 1,595 located in the U.S.[62].

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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 ...

MEXICO CITY, Feb. 6, 2025 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, announced today that Deborah Briones, Chief Legal Officer and General Counsel of Prologis, Inc. ("Prologis"); Carter Andrus, Chief Operating Officer of Prologis; and Joseph Ghazal, Chief Investment Officer of Prologis, have been appointed as non-independent members of the Technical Committee, effective immediately.The Technical Committee is composed of five no ...

Core Viewpoint - Prologis is identified as the largest real estate investment trust (REIT) in the market and is currently perceived as undervalued despite a significant decline in stock price from its peak [1] Group 1: Company Overview - Prologis is the largest owner of industrial real estate and holds the title of the largest REIT across all categories [1] - The stock has experienced a decline of approximately 35% from its all-time high [1] Group 2: Investment Potential - Experts suggest that Prologis could be a stock worth considering for investment in 2025 and beyond [1]