Core Insights - Prologis, Inc. reported a fourth-quarter 2024 core funds from operations (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 [1][4] - The company generated rental revenues of $1.94 billion, slightly missing the consensus estimate by 0.09%, but showing an increase from $1.76 billion year-over-year [3] - Prologis provided a 2025 outlook, projecting core FFO per share in the range of $5.65-$5.81, with an expected average occupancy between 94.5% and 95.5% [12][13] Financial Performance - Total revenues for the fourth quarter were $2.2 billion, up from $1.89 billion in the year-ago quarter [3] - The company reported a core FFO per share of $5.56 for 2024, down 0.9% from the previous year, but still beating the consensus estimate of $5.45 [4] - Interest expenses increased by 33.1% year-over-year to $232.2 million [8] Leasing and Occupancy - In the fourth quarter, Prologis commenced 46.5 million square feet of leases, with a retention level of 78.4% [5] - The average occupancy level in the owned and managed portfolio was 95.6%, down from 95.9% in the prior quarter and 97.1% year-over-year [5] Capital Deployment and Liquidity - Prologis' share of building acquisitions amounted to $384 million, with a weighted average stabilized cap rate of 5.9% [7] - The company exited the fourth quarter with cash and cash equivalents of $1.32 billion, up from $780.9 million at the end of the third quarter [9] - Total liquidity was reported at $7.38 billion, with debt as a percentage of total market capitalization at 25.6% [9] Future Guidance - The company expects cash same-store net operating income (NOI) to grow in the range of 4-5% for 2025 [12] - Capital deployment for development starts is projected between $2.25 billion and $2.75 billion, with acquisition spending estimated at $750 million to $1.25 billion [13]

Shares of industrial real estate leader Prologis (PLD 3.65%) spiked higher on Tuesday, with shares up by about 5% as of 11:30 a.m. ET. The massive real estate investment trust reported its fourth-quarter and year-end 2024 results, and it seems fair to say that investors are happy with what they're seeing.Strong results from the industrial leaderThe main reason for Prologis' move on Tuesday was its latest earnings report. For the fourth quarter, Prologis reported core funds from operations (core FFO -- the r ...

For the quarter ended December 2024, Prologis (PLD) reported revenue of $1.94 billion, up 10.3% over the same period last year. EPS came in at $1.50, compared to $0.68 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.94 billion, representing a surprise of -0.09%. The company delivered an EPS surprise of +8.70%, with the consensus EPS estimate being $1.38.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street exp ...

Prologis (PLD) came out with quarterly funds from operations (FFO) of $1.50 per share, beating the Zacks Consensus Estimate of $1.38 per share. This compares to FFO of $1.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 8.70%. A quarter ago, it was expected that this industrial real estate developer would post FFO of $1.37 per share when it actually produced FFO of $1.43, delivering a surprise of 4.38%.Over the last four quarters ...

Financial Performance - Prologis reported total revenues of $2.201 billion for Q4 2024, a 16.5% increase from $1.889 billion in Q4 2023[30]. - Net earnings attributable to common stockholders reached $1.277 billion in Q4 2024, compared to $629 million in Q4 2023, marking a 103.5% increase[30]. - Core FFO attributable to common stockholders was $1.435 billion for Q4 2024, up from $1.202 billion in Q4 2023, reflecting a 19.4% increase[30]. - The company achieved operating income of $1,421,256 in Q4 2024, compared to $834,851 in Q4 2023, representing a 70.0% increase[63]. - Adjusted EBITDA for Q4 2024 was $2,111,536,000, compared to $1,733,598,000 in Q3 2024, marking a 21.8% increase[179]. - Total rental revenue for Q4 2024 reached $1,178,286,000, with the U.S. contributing $381,817,000, Other Americas $175,358,000, Europe $458,365,000, and Asia $162,746,000[140]. - Core FFO per share - Diluted for Q4 2024 was $1.50, compared to $1.26 in Q4 2023, indicating a 19.0% increase[176]. Guidance and Projections - Prologis anticipates 2025 net earnings attributable to common stockholders to be between $3.45 and $3.70 per share[56]. - The guidance for Core FFO attributable to common stockholders/unitholders for 2025 is projected to be between $5.65 and $5.81 per share[56]. - The company plans to stabilize between $2.25 billion and $2.75 billion in development projects in 2025[56]. Development and Occupancy - Prologis' average occupancy rate is expected to range from 94.5% to 95.5% in 2025[56]. - Average occupancy for the owned and managed portfolio was 96.9% in Q4 2024, slightly down from 97.1% in Q4 2023[71]. - The total square feet of leases commenced in Q4 2024 was 46,491,000, a decrease from 43,650,000 in Q4 2023[82]. - The company has signed leases totaling 66 million square feet in the Owned and Managed portfolio, representing 4.2% of total net effective rent, with 38 million square feet on a Prologis Share basis, accounting for 3.7%[97]. Assets and Liabilities - Total assets as of December 31, 2024, were $95,328,909, a slight decrease from $95,905,196 as of September 30, 2024[60]. - The company’s total liabilities decreased to $36,712,139 from $38,241,104 in the previous quarter, reflecting a reduction of 4.0%[60]. - Cash and cash equivalents increased significantly to $1,318,591 from $780,871 in the previous quarter, marking a 68.8% rise[60]. - The company’s total equity rose to $58,616,770 from $57,664,092 in the previous quarter, an increase of 1.7%[60]. Market Presence - Prologis operates approximately 1.3 billion square feet of logistics facilities across 20 countries, serving around 6,500 customers[10]. - The U.S. market represents 81.7% of Prologis' total square footage, with 3,647 buildings and 753,489 thousand square feet, maintaining a leased percentage of 96.1%[91]. - Prologis' international operations outside the U.S. account for 14.0% of total NOI, with a gross book value of $43,792,007 thousand[94]. Debt and Liquidity - The company reported a total consolidated debt of $30.88 billion, with a significant portion in USD (approximately 45.9%)[155]. - Prologis has a strong liquidity position with total liquidity reported at $7.38 billion[155]. - The weighted average interest rate on debt was 3.2% as of December 31, 2024, slightly up from 3.1% in the previous quarter[146]. - Debt as a percentage of gross market capitalization increased to 25.6% as of December 31, 2024, compared to 23.1% on September 30, 2024[146]. Strategic Investments - Prologis is focused on expanding its market presence and enhancing its operational efficiency through strategic investments and developments in key regions[92]. - The total capital deployment for development starts in 2023 is $4,675 million, showing a consistent investment trend over the years[100]. - The estimated weighted average stabilized yield for development stabilizations is 6.1%[109]. Tax and Expenses - Total current income tax expense for Q4 2024 was $67,910,000, compared to $50,625,000 in Q4 2023, representing a 33.9% increase[195]. - Gross interest expense for Q4 2024 was $236,297,000, up from $193,163,000 in Q4 2023, indicating a 22.3% rise[197]. - Interest expense for the twelve months ended December 31, 2024, totaled $863,932,000, compared to $641,332,000 in 2023, marking a 34.7% increase[197].

Strong uptick in leasing activity post-electionSAN FRANCISCO, Jan. 21, 2025 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today announced the following results for the quarter and fiscal year ended December 31, 2024, as compared to the corresponding periods in 2023:4Q24  Net earnings per diluted share was $1.37 and increased 101.5%, due to higher gains and promotes. Core funds from operations (Core FFO)* per diluted share was $1.50 and increased 19.0%. Core FFO, exc ...

Analysts on Wall Street project that Prologis (PLD) will announce quarterly earnings of $1.38 per share in its forthcoming report, representing an increase of 9.5% year over year. Revenues are projected to reach $1.94 billion, increasing 10.4% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. ...

Core Viewpoint - Prologis is strategically positioned to leverage its modern logistics facilities in key distribution markets, supported by a solid balance sheet and promising development activities [1][10]. Group 1: Company Strategy and Operations - Prologis is focusing on warehouse conversions and new developments in the data center sector, including a recent sale of a data center development in Chicago and a partnership to convert an Illinois warehouse into a high-capacity data center with 32 megawatts capacity [2]. - The company anticipates acquisitions between $1.75 billion and $2.25 billion and development starts in the same range for 2024, indicating a strong growth trajectory [8]. - Prologis plans to develop approximately 20 data center opportunities over the next four years, with an investment of $7 to $8 billion [9]. Group 2: Financial Performance and Outlook - Prologis reported an average occupancy level of 95.9% in its portfolio for Q3, with expectations for 2024 occupancy between 96% and 96.5% [7]. - The company has a total available liquidity of $6.6 billion as of September 30, 2024, with a weighted average interest rate on its debt at 3.1% and a term of 9.2 years [10]. - The Zacks Consensus Estimate for Prologis' 2024 core funds from operations (FFO) per share is $5.45, with a fourth-quarter estimate of $1.38 [4]. Group 3: Market Challenges - The industrial real estate market is experiencing volatility, with subdued demand and high interest expenses posing challenges for Prologis [3][12]. - The company's consolidated debt was $32.3 billion as of September 30, 2024, with a projected 32.5% year-over-year increase in interest expenses for 2024 [13].

The primary goal of the Cash Flow Kingdom Income Portfolio is to produce an overall yield in the 7% - 10% range. We accomplish this by combining several different income streams to form an attractive, steady portfolio payout. The portfolio's price can fluctuate, but the income stream remains consistent. Start your free two-week trial today!Prologis, Inc. (NYSE: PLD ) has seen its shares pull back quite a lot in recent months, which has made the valuation decline and which has made its dividend yield grow. T ...

Prologis (PLD -1.01%) is not only the largest owner of industrial real estate in the United States, but also the largest real estate investment trust, or REIT, of any kind. While the business itself is performing quite well, there are some fears regarding the state of industrial real estate as well as the interest rate environment, and these have caused the stock to fall by more than 20% from its 52-week high.Here's a rundown of how Prologis' business is doing, why the stock is down, and why it could be a g ...