Core Viewpoint - Logistic Properties of the Americas has executed a long-term lease with a major regional packaging company, establishing it as an anchor tenant for Building 400 at Parque Logístico Callao in Peru [1] Group 1: Company Developments - The construction of Building 400 has commenced, which will feature approximately 215,600 square feet of gross leasable area [1]

Core Viewpoint - First Industrial Realty Trust, Inc. is set to announce its fourth quarter and full year 2025 results on February 4, 2026, with a conference call scheduled for February 5, 2026, to discuss these results [1][2]. Company Overview - First Industrial Realty Trust, Inc. is a leading owner, operator, developer, and acquirer of logistics properties in the U.S. [3]. - The company manages approximately 70.4 million square feet of industrial space across 15 target metropolitan statistical areas (MSAs) as of September 30, 2025 [3].

Core Insights - Walmart's acquisition of a $152 million warehouse complex in Glendale signifies a growing trend in Arizona's commercial logistics real estate market, positioning the state as a vital distribution hub for the U.S. Southwest [1][2]. Group 1: Acquisition Details - Walmart has purchased a newly completed 2.4 million-square-foot industrial campus, marking it as the second-largest industrial property sale in metro Phoenix history [2]. - The facility is designed for high-volume warehousing and distribution, with direct access to major highways, enhancing its logistical capabilities [2]. Group 2: Market Dynamics - Arizona is increasingly competing with established logistics hubs due to its strategic location, highway and rail connectivity, and a rapidly growing consumer base [3]. - The Outbound Tender Rejection Index (OTRI) for the Phoenix market has risen to 7.42%, indicating a tightening in local trucking capacity as carriers become more selective [5][7]. Group 3: Industrial Development Trends - There is a surge in industrial construction in the Phoenix area, particularly in sectors related to advanced manufacturing and semiconductor investments [8]. - New developments, such as the ReDiscover Logistics Park in Deer Valley, are targeting suppliers and manufacturers linked to Arizona's expanding chip ecosystem [9].

Core Insights - Wall Street's perspective has shifted towards expectations of a more accommodative monetary policy as economic momentum slows and inflation moderates, influenced by a cooling labor market and recent government shutdowns [2][4] Rate-Sensitive Stocks - **Crocs, Inc. (CROX)**: The company is leveraging its strong global brand and flexible operating model to benefit from improving consumer spending in a lower-rate environment. Management is focusing on brand health by reducing promotional dependence and enhancing pricing integrity. Product innovation and aggressive digital strategies are key growth drivers [7][9] - **Prologis, Inc. (PLD)**: Positioned to benefit from lower rates that could enhance leasing activity and support occupancy recovery. The company boasts competitive advantages such as irreplaceable locations and high customer retention, while also expanding into data centers and energy solutions [9][11] - **Green Brick Partners, Inc. (GRBK)**: The company is achieving record net orders and maintaining gross margins above 30%. Its focus on high-volume Texas markets and disciplined land acquisition strategy positions it well for future demand as affordability improves [9][12] Earnings Estimates - **Crocs, Inc. (CROX)**: The Zacks Consensus Estimate for earnings has increased by $0.70 to $12.13 for the current fiscal year and by $1.19 to $12.60 for the next fiscal year [8] - **Prologis, Inc. (PLD)**: The earnings estimate has risen by $0.01 to $5.80 for the current fiscal year and by $0.03 to $6.09 for the next fiscal year [11] - **Green Brick Partners, Inc. (GRBK)**: The earnings estimate has increased by $0.51 to $6.91 for the current fiscal year and by $0.12 to $6.89 for the next fiscal year [13]

Core Insights - Prologis (PLD) holds the largest logistics portfolio globally, supported by an investment-grade balance sheet and a growing data center business, which may continue to drive stock prices higher despite a 21% year-to-date price return, outperforming the S&P 500's 16% return [1] Group 1: Company Overview - Prologis is recognized for its extensive logistics portfolio, which is the largest in the world [1] - The company has an investment-grade balance sheet, indicating strong financial health [1] - Prologis is expanding its data center business, which is expected to contribute positively to its stock performance [1] Group 2: Market Context - The equity market serves as a significant mechanism for wealth creation or destruction over the long term, influenced by daily price fluctuations [1] - Pacifica Yield is focused on long-term wealth creation, targeting undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1]

Core Insights - Prologis (PLD) holds the largest logistics portfolio globally, supported by an investment-grade balance sheet and a growing data center business, which is expected to drive stock performance higher despite a 21% price return year-to-date, surpassing the S&P 500's 16% return [1] Company Overview - Prologis is recognized for its extensive logistics portfolio, which positions it as a leader in the industry [1] - The company has an investment-grade balance sheet, indicating strong financial health and stability [1] Market Performance - Prologis has achieved a 21% price return year-to-date, outperforming the S&P 500's 16% return, showcasing its strong market performance [1] Strategic Focus - The company is expanding its data center business, which is anticipated to contribute positively to its stock performance in the future [1] - Pacifica Yield aims to create long-term wealth by focusing on undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms, indicating a strategic investment approach in the market [1]

Core Insights - Prologis, Inc. is a leading player in global logistics real estate, focusing on high-barrier and high-growth markets with a market capitalization of approximately $118.2 billion [1] - The company controls around 1.3 billion square feet of logistics space across 20 countries, highlighting its significant global presence [2] Financial Performance - For Q3 of fiscal 2025, Prologis reported an EPS of $0.82 and core FFO of $1.49, reflecting a year-over-year increase of 4.2%, while revenue rose by 8.7% to $2.2 billion [4] - Analysts anticipate a diluted EPS of $1.44 for the upcoming quarter, a decrease of 4% from the previous year's $1.50, but Prologis has consistently exceeded EPS estimates in the past four quarters [3] - Prologis is projected to see a diluted EPS increase of 4.3% year-over-year to $5.80 in fiscal 2025, followed by a further 5% increase to $6.09 in fiscal 2026 [5] Market Performance - Over the past 52 weeks, Prologis stock has increased by 25.5%, with year-to-date gains of 20.4%, outperforming the S&P 500 Index, which rose 16.5% over the same period [6] - The performance of Prologis is notably stronger compared to the State Street Real Estate Select Sector SPDR ETF, which has shown only marginal gains over the past year [7]

Core Insights - The sale of an Amazon distribution center near Los Angeles International Airport for $211 million marks a record price, reflecting the increasing value of logistics centers near transportation hubs [2][3] - The distribution center, covering 143,060 square feet, was built to serve Amazon and is located in a highly sought-after industrial corridor, with low vacancy rates and limited land availability around LAX [3][4] - Institutional investors, including Morgan Stanley, are actively acquiring modern logistics assets, driven by the rise of e-commerce and the need for well-located facilities [4][6] Real Estate Market Trends - Industrial sales volume in Los Angeles has increased by 4% year-over-year, with a total sales volume exceeding $5 billion and over 800 transactions year-to-date, surpassing the totals of the previous two years [7] - Lower interest rates have contributed to the rise in industrial sales, making capital costs more favorable for investors [7] - Morgan Stanley has been a significant player in the market, accounting for about one-third of the acquisition volume in Los Angeles this year [7]

Core Viewpoint - Prologis, Inc. will host a webcast and conference call on January 21, 2026, to discuss its fourth quarter results, current market conditions, and future outlook [1]. Group 1: Event Details - The conference call is scheduled for January 21, 2026, at 9:00 a.m. PT/12:00 p.m. ET [1]. - A live broadcast can be accessed via a toll-free number for the U.S. and Canada, and a separate number for other countries [2]. - A telephonic replay will be available from January 21 to February 4, 2026, with specific access codes provided [3]. Group 2: Company Overview - Prologis is a leader in logistics, creating intelligent infrastructure that supports global commerce [3]. - The company focuses on connecting digital and physical worlds, enhancing supply chains, and providing clean energy solutions [3]. - Prologis emphasizes its unmatched scale, innovation, and expertise in shaping the future of logistics [3].

Core Insights - Prologis reported a third-quarter 2025 core FFO per share of $1.49, exceeding the Zacks Consensus Estimate of $1.44 and showing an increase from $1.43 in the same quarter last year [2] - Rental revenues reached $2.05 billion, slightly below the Zacks Consensus Estimate of $2.10 billion but up from $1.90 billion year-over-year [3] - Total revenues increased to $2.21 billion from $2.04 billion in the prior year [3] Financial Performance - The company experienced a 12.2% year-over-year increase in interest expenses, totaling $258.3 million [7] - Average occupancy in Prologis' portfolio was 94.8%, a slight decrease from 94.9% in the previous quarter and 95.9% year-over-year [5] - Cash same-store net operating income (NOI) grew by 5.2%, compared to 4.9% in the previous quarter [5] Market Position and Strategy - Prologis' CEO highlighted a strong pipeline and improving customer sentiment, indicating a favorable logistics market for rent and occupancy growth [4] - The company commenced 65.6 million square feet of leases in the quarter, with a retention level of 77.2% [4] - Prologis' share of net effective rent change was 49.4%, with a cash rent change of 29.4% [5] Liquidity and Debt Management - Prologis ended the third quarter with cash and cash equivalents of $1.19 billion, up from $1.07 billion at the end of the previous quarter [8] - Total liquidity was reported at $7.5 billion, with debt constituting 26.5% of total market capitalization [8] - The company issued $2.3 billion of debt at a weighted average interest rate of 4.2% during the quarter [9] Guidance and Future Outlook - Prologis raised its 2025 core FFO per share guidance to a range of $5.78-$5.81, up from $5.75-$5.80 [11] - The company revised its capital deployment outlook for development starts to $2.75-$3.25 billion, and for dispositions to $750-$1,000 million [12] - Estimates for the stock have been trending downward, with a Zacks Rank of 3 (Hold), indicating an expectation of in-line returns in the coming months [15]