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), a leader in logistics real estate, will host a webcast and conference call on January 18, 2023, at 9:00 a.m. PT to discuss its fourth quarter results, current market trends, and future outlook. Investors can join the call by dialing +1 (877) 897-2615 or via a webcast at www.prologis.com. This session will provide insights into Prologis's performance and strategies as of September 30, 2022, when the company managed properties totaling approximately 1.0 billion square feet across 19 countries.
Prologis (NYSE: PLD) announced a study with Oxford Economics detailing its economic impact. In 2022, 2.8% of global GDP flowed through Prologis properties, totaling $2.7 trillion in goods — a 23% rise from 2020. The study highlighted that Prologis is responsible for 36.2% of goods consumption in the U.S. and generated $66 billion in tax impacts from $300 billion in economic activity across 19 countries. The report emphasizes Prologis's essential role in global logistics and supply chains, particularly following its recent acquisition of Duke Realty.
The Board of Directors of Prologis, Inc. (NYSE: PLD) has declared a cash dividend of $0.79 per share for common stock, payable on December 30, 2022, to stockholders on record by December 19, 2022. Additionally, a dividend of $1.0675 per share for the 8.54% Series Q Preferred Stock will be paid on January 3, 2023. As of September 30, 2022, Prologis owned or invested in approximately 1.0 billion square feet of logistics properties across 19 countries.
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Prologis, Inc. (NYSE: PLD) has launched two major electric truck charging sites to assist Performance Team in electrifying its commercial fleet. Located in Southern California, these installations will charge up to 38 Volvo VNR Electric trucks with over 4 megawatts of capacity. The Prologis Mobility platform provides a seamless, cost-effective solution, enabling clients to focus on sustainability without upfront costs. California aims for all heavy-duty trucks to be zero-emissions by 2045, prompting logistics firms to adopt similar goals. This initiative underlines Prologis's commitment to supporting the logistics industry's transition to electric vehicles.
Prologis hosted its annual GROUNDBREAKERS forum on October 25, 2022, in New York, gathering leaders in logistics and supply chain transformation. The event emphasized the need for customer-centric, sustainable solutions in the global supply chain. Discussions included technology investments for growth, the importance of ESG commitments, and the future of clean energy. Prologis owns approximately 1.0 billion square feet of logistics real estate across 19 countries, serving around 5,800 customers.
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.