Prologis Inc. Stock Price, News & Analysis

Cedar Fair (NYSE: FUN) has announced the sale of its California's Great America amusement park land to Prologis (NYSE: PLD) for approximately $310 million, retaining a long-term lease for continued operation. This transaction is part of a strategic review aimed at maximizing asset value, allowing Cedar Fair to focus on reducing debt and reinvesting in high-return projects. The company aims to reach a $2 billion debt target and plans to reinstate quarterly unitholder distributions by Q3 2022, pending board approval.

Prologis (NYSE: PLD) has announced a commitment to achieve net zero emissions across its value chain by 2040, with interim targets including 1 GW of solar capacity by 2025 and net zero operations by 2030. The company has been carbon neutral for scope 1 and 2 emissions since 2019. Its recent 2021-22 ESG report highlights several initiatives such as the installation of 325 MW of solar and investments in energy services, including EV charging stations. Prologis aims to support its customers' sustainability goals while reinforcing its industry leadership in green initiatives.

Prologis (NYSE: PLD) has announced a definitive merger agreement to acquire Duke Realty (NYSE: DRE) in an all-stock transaction valued at approximately $26 billion, including debt assumption. Both boards unanimously approved the deal. Prologis gains high-quality properties across key U.S. logistics markets, totaling 153 million square feet. The transaction is expected to create immediate cost savings of $310-$370 million and increase annual core funds from operations by $0.20-$0.25 per share in the first year. The merger is anticipated to close in Q4 2022, pending shareholder approval.

Prologis, the logistics real estate leader, announced that CFO Tim Arndt will present at REITWeek 2022 on June 8 at 3:30 p.m. ET in New York. The 30-minute session will be accessible via live webcast, available for 90 days. An updated Investor Presentation will be released on June 7. As of March 31, 2022, Prologis manages approximately 1.0 billion square feet of properties across 19 countries, serving around 5,800 customers in business-to-business and retail/online fulfillment sectors.

Prologis has proposed an all-stock acquisition of Duke Realty, offering 0.466 shares of Prologis for each Duke Realty share, valuing it at $61.68—representing a 29% premium over Duke's previous closing price. CEO Hamid R. Moghadam emphasizes significant growth potential and synergies from the merger, citing a strong track record of successful acquisitions. Prologis has sought engagement since November 2021, but Duke Realty has not substantively responded. The transaction promises immediate value and long-term benefits for shareholders.

The Board of Directors of Prologis declared a cash dividend of $0.79 per share for Q2 2022, to be paid on June 30, 2022. Shareholders of record by June 16, 2022 will receive this dividend. Additionally, a dividend of $1.0675 for the Series Q Cumulative Redeemable Preferred Stock will also be paid on the same date to record holders by June 17, 2022. At its 2022 annual stockholder meeting, Prologis elected 11 directors and approved executive compensation and the appointment of KPMG LLP as auditors.

Terreno Realty Corporation (NYSE: TRNO) declared a cash dividend of $0.34 per common share for the quarter ending June 30, 2022, payable on July 14, 2022. This dividend reflects the company's commitment to returning value to shareholders. Additionally, the quarterly report for the period ending March 31, 2022 has been filed with the SEC. The company also promoted Melinda Weston to Chief Accounting Officer, effective May 3, 2022, strengthening its management team.

Prologis, Inc. (NYSE: PLD) reported robust first-quarter results for 2022, with net earnings per diluted share at $1.54, up from $0.49 a year prior. Core FFO per diluted share increased to $1.09 from $0.97. Average occupancy was strong at 97.4%, with net effective rent growth of 37.0%. The company raised its 2022 guidance for net earnings to $4.85 to $5.00, reflecting a 10.1% increase. Liquidity remains strong with $6.8 billion on hand. Prologis is participating in the Biden Administration's supply chain initiative, enhancing its industry standing and operational performance.

Prologis, Inc. (NYSE: PLD) will host a webcast and conference call on April 19, 2022, at 9:00 a.m. PT to discuss its first quarter results, market conditions, and future outlook. Investors can access the live call by dialing +1 (888) 330-2502 or joining via the company’s website. A replay will be available from April 19 to May 3. Prologis, a leader in logistics real estate, manages approximately 1 billion square feet of properties across 19 countries, serving around 5,800 customers in business-to-business and retail sectors.