Prologis (PLD) , the leading industrial REIT, is slated to report fourth-quarter and full-year 2023 earnings on Jan 17 before the bell. In anticipation of the announcement, industry analysts and investors are eager to assess the company's performance and prospects in the current economic climate.In the last reported quarter, this REIT delivered a surprise of 3.17% in terms of core funds from operations (FFO) per share. The results reflected healthy rent growth.Over the trailing four quarters, Prologis beat ...

Tim Allen Prologis, Inc. (NYSE:PLD), formed in 1997 and headquartered in San Francisco, CA, is currently the largest REIT by market capitalization and focuses on the ownership, development, and management of logistics facilities located in 19 countries across four continents. The company's operating performance, along with its solvency profile and widely diversified portfolio makes the business very attractive. However, the shares are trading at a large premium and the dividend yield is too low. In this pos ...

Wall Street analysts forecast that Prologis (PLD) will report quarterly earnings of $1.26 per share in its upcoming release, pointing to a year-over-year increase of 1.6%. It is anticipated that revenues will amount to $1.78 billion, exhibiting an increase of 12.2% compared to the year-ago quarter.The consensus EPS estimate for the quarter has been revised 0.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial esti ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

SAN FRANCISCO, Dec. 28, 2023 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, will host a webcast and conference call with senior management to discuss fourth quarter results, current market conditions and future outlook on Wednesday, January 17, 2024, at 9:00 a.m. PT/12:00 p.m. ET.To access a live broadcast of the call, please dial +1 (877) 897-2615 (toll-free from the United States and Canada) or +1 (201) 689-8514 (from all other countries). A live webcast can be acc ...

Bilanol/iStock via Getty Images There are several reasons why we tend to avoid investing in externally managed REITs, including potential conflicts of interest, less operating leverage, and because we want to participate in the value creation when the company develops a new asset. Unlike some YieldCos that have a sponsor "drop" assets into it and investors simply receive the rent or income generated by that asset, participating in the value creation adds significant extra performance. This is one of the ...

SAN FRANCISCO, Dec. 21, 2023 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) today announced that Vice Chairman Gene Reilly will be retiring at year end, after which he will serve as a senior advisor through April 2024. Reilly has played a critical leadership role in almost every respect of the company's growth and evolution for more than two decades. He is considered as one of the most knowledgeable global experts on logistics real estate and, during his career, has contributed his time and leadership skills to ...

Company Overview - Prologis owns or has investments in approximately 1.2 billion square feet of properties and development projects as of September 30, 2023[162]. - The acquisition of Duke Realty Corporation was completed in October 2022 for a total price of $23.2 billion, including transaction costs, funded through equity issuance and debt assumption[162]. Revenue and Operations - Rental operations contribute 85% to 90% of Prologis's consolidated revenues, earnings, and funds from operations (FFO)[167]. - The estimated lease mark-to-market is approximately 62% based on net effective rent (NER), indicating significant potential for future organic net operating income (NOI) growth[173]. - The operating portfolio occupancy was 97.5% as of September 30, 2023, with a net effective rent change of 77.2% on leases commenced during the nine months ended September 30, 2023[180]. - The company expects continued rent growth due to healthy demand and low vacancy rates in its markets[173]. Financial Performance - The Real Estate Segment NOI for the nine months ended September 30, 2023, was $3.815 billion, up from $2.478 billion in the same period of 2022, reflecting a $1.3 billion increase[188]. - Strategic capital revenues for the nine months ended September 30, 2023, totaled $1,071 million, a significant increase from $885 million in 2022, representing a 21% growth[201]. - The Strategic Capital Segment's NOI for the same period was $764 million, up from $645 million in 2022, reflecting a 18.4% increase[201]. - Net earnings from unconsolidated entities for the nine months ended September 30, 2023, were $218 million, down from $241 million in 2022[223]. - For the nine months ended September 30, 2023, net earnings attributable to common stockholders were $2,424 million[280]. Investments and Development - Prologis's consolidated land has the potential to support the development of $37.2 billion of total expected investment (TEI) in new logistics space[174]. - The company stabilized 43 development buildings during the period, totaling 15 million square feet, with a total estimated investment of $1.863 billion[195]. - The consolidated development portfolio had a total expected investment of $6.9 billion, with 41.0% leased as of September 30, 2023[196]. - The company expects to complete the development of 110 properties, which are currently 41% leased, with a total investment of $4.4 billion[239]. Debt and Liquidity - The weighted average remaining maturity of Prologis's consolidated debt is 10 years, with a weighted average interest rate of 2.9%[176]. - Prologis had total available liquidity of $6.9 billion as of September 30, 2023, maintaining low leverage relative to real estate investments and market capitalization[176]. - Total consolidated debt amounted to $27.578 billion as of September 30, 2023, with a weighted average interest rate of 2.9%[243]. - The company had $741 million in unrestricted cash and $6.2 billion available under credit facilities as of September 30, 2023[240]. Expenses and Gains - G&A expenses rose to $292 million in 2023 from $246 million in 2022, primarily due to inflation and higher compensation costs[204]. - Depreciation and amortization expenses increased to $1.8 billion in 2023, up from $1.2 billion in 2022, marking a $646 million rise[207]. - Gains on real estate transactions were $274 million for the nine months ended September 30, 2023, compared to $391 million in 2022, indicating a decline of 30%[208]. Cash Flow - Net cash provided by operating activities increased to $4,299 million in 2023 from $2,849 million in 2022, representing a 51% increase[251]. - Net cash used in investing activities rose to $(5,212) million in 2023 compared to $(3,211) million in 2022, indicating a 62% increase in investment outflows[251]. - Operating distributions from unconsolidated entities increased to $536 million in 2023 from $316 million in 2022, a 69% increase[254]. Foreign Currency and Risk Management - 6.7% of total consolidated revenue, amounting to $411 million, was denominated in foreign currencies[285]. - The company has forward contracts with an aggregate notional amount of $1.7 billion to mitigate foreign currency translation risk[285]. - The company monitors market risk exposures using sensitivity analysis, estimating a hypothetical 10% adverse change in foreign currency exchange rates[282].

Prologis, Inc. (NYSE:PLD) Q3 2023 Earnings Conference Call October 17, 2023 12:00 PM ET Company Participants Jill Sawyer - Senior Vice President, Investor Relations Tim Arndt - Chief Financial Officer Hamid Moghadam - Chief Executive Officer Dan Letter - President Chris Caton - Managing Director, Global Strategy and Analytics Conference Call Participants Michael Goldsmith - UBS Craig Mailman - Citi Steve Sakwa - Evercore ISI Todd Thomas - KeyBanc Capital Markets Caitlin Burrows - Goldman Sachs John Kim - BM ...