Welcome to our dedicated page for Prologis news (Ticker: PLD), a resource for investors and traders seeking the latest updates and insights on Prologis stock.
Prologis, Inc. operates as a global logistics real estate REIT with industrial and distribution facilities, build-to-suit development activity, and a Strategic Capital asset management business for institutional partners. Company news commonly covers leasing trends, Core FFO and earnings results, development starts, customer demand across logistics markets, and expansion of adjacent infrastructure such as data center, solar and energy storage portfolios.
Recurring updates also include dividends on common stock and Series Q preferred stock, Strategic Capital joint ventures, capital allocation commentary, management presentations, and market outlook commentary tied to logistics real estate and supply-chain infrastructure.
Prologis, Inc. (NYSE: PLD) reported a strong Q3 2022, with net earnings per diluted share at $1.36, rising from $0.97 in Q3 2021. Core FFO per diluted share also increased to $1.73, compared to $1.04 a year earlier. The company’s acquisition of Duke Realty, completed on October 3, is expected to enhance growth despite a cautious outlook due to economic conditions. Prologis lowered its 2022 earnings guidance to between $4.25 and $4.30 per share, reflecting a 17.8% decrease. Their balance sheet remains strong with $5.3 billion in liquidity.
Prologis will host the Groundbreakers 2022 event on October 25, 2022, from 9:00 AM to 12:30 PM ET at Hudson Yards, NYC, with global livestreaming. The event focuses on future issues in supply chain logistics, featuring industry leaders like Hamid Moghadam, Dave Clark, and Annette Clayton. Attendees will explore topics such as innovation, leadership, and renewable energy. This event aims to galvanize discussions around the evolving landscape of logistics and supply chain management.
Prologis, Inc. (NYSE: PLD) announced the final results of its exchange offers for Duke Realty Notes, with valid tenders reaching approximately $3.23 billion out of a total $3.375 billion offered. The exchange was contingent upon the successful merger with Duke Realty Corporation, which was completed on October 3, 2022. All required consent conditions were met, with the settlement date for exchanges expected on October 6, 2022.
Prologis has successfully completed its all-stock acquisition of Duke Realty, valued at approximately $23 billion, enhancing its presence in key U.S. markets. This acquisition adds 142 million square feet of operational logistics buildings and over 500 new customers. Prologis aims to leverage its Essentials platform to support these customers and address supply chain challenges. The deal also includes properties in major regions and anticipates further earnings growth and operational synergies.
On September 28, 2022, Prologis and Duke Realty announced the successful approval of their merger by stockholders at special meetings. Over 99% of Prologis voters approved the issuance of stock for the merger, while 99% of Duke Realty shareholders voted in favor of the agreement. Each Duke Realty share will convert to 0.475 shares of Prologis upon merger completion, which is anticipated in early October, conditional on customary closure requirements. This merger aims to enhance Prologis's presence in the logistics real estate sector.
Prologis, Inc. (NYSE: PLD) will hold a webcast and conference call on October 19, 2022, at 9:00 a.m. PT to discuss its third quarter results and market outlook. Investors can participate via a toll-free number or through a live webcast on their website. A replay of the call will be available until November 2. As of June 30, 2022, Prologis owned or had investments in logistics properties totaling approximately 1.0 billion square feet in 19 countries, serving about 5,800 customers.
Prologis, Inc. (NYSE: PLD) reported early results from its exchange offers for Duke Realty Notes, with approximately $3.22 billion tendered by the early expiration date. The exchange offers will expire on October 4, 2022. The company has received the necessary consents to amend the Duke Realty Indentures, contingent upon the merger with Duke Realty Corporation being completed. Amendments to the notes will provide less restrictive terms for holders. Exchange offers aim to allow Duke Realty Notes holders to exchange their notes for Prologis Notes.
Prologis, Inc. (NYSE: PLD), a leader in logistics real estate, announced CFO Tim Arndt's participation at two upcoming conferences in New York City. He will present at the Barclays 2022 Global Financial Services Conference on September 12 at 10:30 a.m. ET and the BofA Securities 2022 Global Real Estate Conference on September 13 at 1:25 p.m. ET. Both presentations will be accessible via live audio webcast on their investor relations website. As of June 30, 2022, Prologis owns or has investments totaling approximately 1.0 billion square feet across 19 countries.
Prologis, Inc. (NYSE: PLD) has declared a regular cash dividend for Q3 2022. A dividend of $0.79 per share will be paid on September 30, 2022, to shareholders of record on September 15, 2022. Additionally, a dividend of $1.0675 per share for the 8.54% Series Q Cumulative Redeemable Preferred Stock will also be disbursed on the same date to Series Q stockholders of record on September 15, 2022. Prologis continues to lead in logistics real estate, owning approximately 1.0 billion square feet across 19 countries.
Prologis, Inc. (PLD) announced the commencement of exchange offers for outstanding notes of Duke Realty Limited Partnership, totaling up to $3.375 billion. The exchange involves nine series of Duke Realty Notes being swapped for corresponding Prologis Notes. Each Prologis Note will have the same terms as the Duke Realty Notes. Holders tendering by September 14, 2022, will receive additional consideration, while those tendering later will not. The completion of these exchanges is contingent on the merger with Duke Realty Corporation, expected in Q4 2022.