Financial Data and Key Metrics Changes - For Q1 2025, funds from operations (FFO) were reported at $0.68 per fully diluted share, an increase from $0.60 per share in Q1 2024, indicating a positive trend in financial performance [22] - Cash same-store rental growth for the quarter, excluding termination fees, was 10.1%, driven by increases in rental rates and higher average occupancy [22][23] - In-service occupancy at the end of the quarter was 95.3%, a decrease of 90 basis points from year-end and 20 basis points from the year-ago quarter [22][23] Business Line Data and Key Metrics Changes - The company achieved a cash rental rate increase of 30% for new and renewal leasing, with a projected growth of 30% to 40% for the full year [15][29] - Development leasing included a successful expansion of a tenant in Denver, bringing a 200,000 square foot building to 100% occupancy [16] - The company plans to break ground on a 176,000 square foot facility in Dallas, targeting a cash yield of approximately 8% [17] Market Data and Key Metrics Changes - Nationally, vacancy in Tier 1 U.S. markets was reported at 5.9%, unchanged since year-end [12] - Net absorption was 56 million square feet, with 24 million square feet occurring in the company's target markets [12] - New construction starts were 75% lower than the peak in Q3 2022, with only 54 million square feet breaking ground in Q1 [13] Company Strategy and Development Direction - The company is focused on executing objectives to drive long-term cash flow growth while monitoring the impact of tariffs on tenant demand [30] - The strategy includes remaining opportunistic in new investments, particularly in markets like Texas, Florida, and Pennsylvania [50] - The company aims to capitalize on unmet demand in specific sub-markets while being cautious due to tariff uncertainties [50] Management's Comments on Operating Environment and Future Outlook - Management expressed that the evolving landscape surrounding tariffs poses potential risks to business activity and leasing markets [10][11] - The company remains optimistic about its leasing objectives and has seen increased activity in tenant requests for proposals (RFPs) despite tariff concerns [47][75] - Management noted that while some conversations have paused, the overall interest and demand for space remain strong [88][90] Other Important Information - The company renewed its senior unsecured revolving credit facility by $100 million, extending the maturity date to March 2030 [24] - The company acquired two fully leased developments in Phoenix for a total basis of $120 million, with a cash yield of 6.4% [20] - The company expects to capitalize about $0.09 per share of interest for the full year of 2025 [29] Q&A Session Summary Question: Impact of tariffs on tenancy perspective - Management indicated that exposure to Chinese 3PLs is minimal, with only 450,000 square feet leased to them, and no significant concerns from auto tenants [35][37] Question: Development leasing visibility - Management confirmed that the majority of development leasing is still expected in Q4, with good activity in the market despite some tenant concerns [41][46] Question: G&A expenses related to stock-based compensation - Management acknowledged an increase in G&A due to accelerated stock-based compensation but did not provide specific figures during the call [55] Question: Current tenant activity and leasing velocity - Management noted that while some tenants have paused decisions, the overall interest remains strong, and many are still moving forward with leasing [88][90] Question: Development starts and market conditions - Management confirmed that the two new developments planned for Q2 are proceeding as they cater to local demand, despite current market uncertainties [144][145] Question: Amazon's expansion and RFPs - Management observed that Amazon is focused on enhancing same-day delivery capabilities and is active in several markets, indicating a shift in their approach to warehousing [161][162]

Financial Data and Key Metrics Changes - For Q1 2025, funds from operations (FFO) were reported at $0.68 per fully diluted share, an increase from $0.60 per share in Q1 2024, indicating a positive trend in financial performance [22] - Cash same-store rental growth for the quarter, excluding termination fees, was 10.1%, driven by increases in rental rates and higher average occupancy [22][23] - In-service occupancy at the end of the quarter was 95.3%, a decrease of 90 basis points from year-end and 20 basis points from the year-ago quarter [22][23] Business Line Data and Key Metrics Changes - The company achieved a cash rental rate increase of 30% for new and renewal leasing, with a projected growth of 30% to 40% for the full year [15][29] - Development leasing included a successful expansion of a tenant in Denver, bringing a 200,000 square foot building to 100% occupancy [16] - The company plans to break ground on a 176,000 square foot facility in Dallas, targeting a cash yield of approximately 8% [17] Market Data and Key Metrics Changes - Nationally, vacancy in Tier 1 U.S. markets was reported at 5.9%, unchanged since year-end [12] - Net absorption was 56 million square feet, with 24 million square feet in target markets, while new construction starts were 75% lower than the peak in Q3 2022 [13] - In the Inland Empire, vacancy rates decreased by 30 basis points, with net absorption of 3 million square feet, indicating a positive trend in that market [65] Company Strategy and Development Direction - The company is focused on executing objectives to drive long-term cash flow growth while monitoring the impact of tariffs on tenant demand [30] - Future developments will target areas with unmet demand, particularly in Texas, Florida, and Pennsylvania [50] - The company remains opportunistic regarding new investments, emphasizing risk-adjusted returns in targeted sub-markets [50][134] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the evolving landscape surrounding tariffs and their potential impact on business activity and leasing markets [10][11] - The tone remains positive, with good momentum and increased foot traffic, although decision-making has slowed due to uncertainty around tariffs [75][90] - Management anticipates that the majority of tenant demand will continue, despite some conversations being paused [88][90] Other Important Information - The company renewed its senior unsecured revolving credit facility by $100 million, extending the maturity date to March 2030 [24] - The company acquired two fully leased developments in Phoenix for $120 million, with a cash yield of 6.4% [20] - The company expects to capitalize about $0.09 per share of interest for the full year of 2025 [29] Q&A Session Summary Question: Impact of tariffs on tenancy perspective - Management indicated that exposure to Chinese 3PLs is minimal, with only 450,000 square feet leased to them, and no significant concerns from auto tenants [35][37] Question: Development leasing visibility - Management confirmed that the majority of development leasing is expected in Q4, with good activity in the market despite some tenant concerns regarding tariffs [41][46] Question: G&A expenses related to stock-based compensation - Management acknowledged an increase in G&A due to accelerated stock-based compensation but did not provide a specific dollar amount during the call [55] Question: Current tenant activity and leasing velocity - Management noted that while some tenants have paused, the overall interest and demand remain strong, with no specific concentration of paused activity in certain industries [88][92] Question: Development yields and construction costs - Management stated that they can achieve yields over 7% on new developments, despite rising construction costs, by focusing on areas with strong demand [112][114] Question: Amazon's expansion plans and RFPs - Management observed that Amazon is focused on expanding same-day delivery capabilities and is active in several markets, indicating a shift in their approach to warehousing [161][162]

MEXICO CITY, April 11, 2025 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, today announced it will host an ordinary certificate holders meeting on April 25, 2025, at 11:00 am Mexico Time. The meeting agenda includes the following items: I. Proposal, discussion and, if applicable, approval of the Trust's audited annual financial statements, corresponding to the fiscal year 2024, in accordance with Clause 4.3, subsection (a), nume ...

MEXICO CITY, April 7, 2025 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A logistics real estate in Mexico, will host a webcast and conference call with senior management to discuss first quarter results, current market conditions and future outlook on Wednesday, April 30, at 9:00 a.m. Mexico Time.To access a live broadcast of the call, dial +1 888 596 4144 (toll-free from the United States and Canada), 800 269 4416 (toll-free from Mexico) or +1 646 968 2525 from al ...

Core Viewpoint - Plymouth Industrial REIT, Inc. has successfully closed on $65.1 million in acquisitions of industrial properties, enhancing its portfolio with stable cash flow and long-term value appreciation [1][3][4]. Summary by Sections Acquisitions - The company acquired a Cincinnati small bay industrial portfolio consisting of four buildings totaling 240,578 square feet for $17.9 million, with an initial estimated net operating income (NOI) yield of 7.0% [1]. - A 263,000-square-foot warehouse facility in Cincinnati was purchased for $23.3 million, yielding an initial estimated NOI of 6.7% [1]. - In Atlanta, the company purchased a 297,583 square-foot warehouse facility for $23.9 million, with an initial estimated NOI yield of 6.8% [2]. - Across three transactions in Atlanta and Cincinnati, the total area acquired was 801,161 square feet, with an overall initial estimated NOI yield of 6.8% [3]. Portfolio Characteristics - All acquired properties are 100% leased, featuring a weighted average remaining lease term of 4.4 years [3]. - The Cincinnati portfolio has a weighted average remaining lease term of 3.5 years, while the Atlanta facility has a remaining lease term of three years [2][3]. Strategic Alignment - The acquisitions align with the company's strategy to expand in key markets at below replacement cost while securing stable cash flow and long-term value appreciation [4]. - The company aims to enhance its portfolio's income potential and market presence through investments in high-quality industrial assets [4].

Financial Data and Key Metrics Changes - The company announced a strategic transaction with Sixth Street, enhancing borrowing capacity and securing up to $500 million for acquisitions [6][7] - The same store portfolio has been reset to 168 buildings, representing 89% of the total in-place portfolio, with Q4 2024 occupancy at approximately 92% [20][48] - The company anticipates a 380 basis points occupancy improvement, equating to over 1 million square feet lease-up [20] Business Line Data and Key Metrics Changes - The Cincinnati acquisitions totaled approximately 762,000 square feet for $61.3 million, contributing to capital deployment efforts [10] - The company has a pipeline exceeding 11 million square feet and $1 billion in potential acquisitions, primarily in existing markets [11] Market Data and Key Metrics Changes - Market conditions remain favorable for buildings under 250,000 square feet, with over 95% of leases concentrated in this segment [9] - The rental growth rate in the company's markets is normalized between 3% and 4%, with mid-teens to low 20% growth expected on rent spreads for small to midsize spaces [32] Company Strategy and Development Direction - The focus for 2025 will be on leasing opportunities and capital deployment, with a strategic emphasis on expanding scale [7][11] - The company is positioned to execute on leasing and capital deployment strategies, leveraging the capital secured from the Sixth Street transaction [11][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating tenant challenges and leasing remaining spaces, with strong momentum anticipated for 2025 [8][9] - The company is optimistic about the leasing environment, with significant leasing activity noted towards the end of January and into February [27] Other Important Information - The company has made solid progress on capital deployment and is strategically positioned to expand its scale in existing markets [11] - Management highlighted the importance of value-add acquisitions and the capability to handle multiple projects simultaneously [78] Q&A Session Summary Question: What is the potential for acquisitions and their timing? - The company assumes $360 million of acquisitions at the midpoint, with about $70 million already banked, and expects to deploy the remainder evenly over the coming quarters [17] Question: Can you provide details on the leasing environment and remaining vacancies? - All carryover vacant space has already commenced leasing, with occupancy increasing from 92.5% to 94.3% this year, indicating strong leasing activity [26][27] Question: What are the expectations for the St. Louis lease and tenant renewals? - The tenant has expressed interest in expanding and continuing the lease, despite a reduction in square footage [38] Question: How does the company view the Sixth Street transaction and stock performance? - Management believes the transaction is transformative and is focused on deploying capital effectively, with a buyback strategy in place if stock performance does not improve [56][57] Question: What are the pricing trends in the market? - The company is experiencing negative leverage in the marketplace, with significant competition for acquisitions, indicating a challenging environment for pricing [69][74] Question: Are there any impacts from tariffs or reshoring initiatives? - There is a significant increase in demand for bulk storage requirements due to tariffs, with companies rushing to secure warehouse space [90][91]

STAG Industrial (STAG) Q4 2024 Earnings Call February 13, 2025 10:00 AM ET Company Participants Steve Xiarhos - Vice President - Capital Markets & Investor RelationsWilliam Crooker - CEO, President & DirectorMatts Pinard - CFOVince Tibone - Managing Director and Head of US Industrial & Mall ResearchMichael Chase - Executive VP & Chief Investment OfficerJohn Kim - Managing Director - US Real EstateBrendan Lynch - Director Conference Call Participants Craig Mailman - Managing Director & Equity Research Analys ...