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 ...

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]

Group 1 - The article highlights the challenges faced by Real Estate Investment Trusts (REITs) due to rising interest rate concerns, which have negatively impacted the real estate sector [2] - It emphasizes the importance of distinguishing between high-quality investments and those that may be underperforming in the current market environment [2] Group 2 - The focus of iREIT+HOYA Capital is on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging opportunities [1]