Prologis Inc. Stock Price, News & Analysis

Prologis, Inc. (NYSE: PLD) announced a cash dividend of $0.63 per share for the quarter ending March 31, 2021, payable on that date to shareholders of record as of March 19, 2021. Additionally, a dividend of $1.0675 per share will be paid on the Series Q Cumulative Redeemable Preferred Stock. Prologis has maintained a 10-year dividend CAGR of 8.4% since the AMB/ProLogis merger in 2011. The company anticipates generating $1.1 billion in cash flow after dividends in 2021, preserving a payout ratio in the low-60 percent range.

Prologis, Inc. (NYSE: PLD) announced the closing of approx. $2.0 billion in senior unsecured notes to fund a major refinancing initiative. The issuance includes €850 million (approx. $1.0 billion) due in 2032 at a 0.5% coupon, €500 million (approx. $600 million) due in 2041 at a 1.0% coupon, and $400 million due in 2031 at a 1.625% coupon. This transaction will reduce the company's average interest rate by 20 basis points to 1.8% and extend its average debt maturity to 10.6 years. Prologis aims to capitalize on favorable financing conditions to enhance its capital structure.

Prologis, Inc. (NYSE: PLD) announced the redemption of all outstanding 3.375% Notes due February 20, 2024, with a redemption price estimated at 111.8% of the principal amount. This equates to approximately €1,118 per €1,000 in principal, including accrued interest. Following the redemption on March 5, 2021, the bonds will be delisted from the New York Stock Exchange. Prologis, a leader in logistics real estate, manages properties totaling around 984 million square feet globally, focusing on high-growth markets and a diverse customer base.

Prologis (NYSE: PLD) announced that Nippon Prologis REIT, Inc. has priced investment units at 332,962 Japanese yen each. The offering includes 66,700 units for domestic placement and 49,300 units for international placement. The estimated net proceeds of JPY 37.3 billion ($361.1 million) will be used to acquire three Class-A properties valued at JPY 62.2 billion ($600.9 million) from Prologis' Japan portfolio. The transaction is set to close in Japan on February 2, 2021.

Prologis, Inc. (NYSE: PLD) reported Q4 2020 net earnings per diluted share of $0.38, down from $0.61 in Q4 2019, due to reduced gains on asset sales and increased debt costs. However, Core FFO per diluted share rose to $0.95 from $0.84 year-over-year. Average occupancy improved to 95.8%, while leases commenced reached 45 million square feet. The company forecasts 2021 net earnings between $2.36 and $2.52 per diluted share, with Core FFO projected at $3.88 to $3.98 per diluted share, indicating a growth trajectory driven by strong demand in logistics and e-commerce.

Prologis, Inc. (NYSE: PLD) has announced the tax treatment details for the 2020 distributions from Liberty Property Trust (NYSE: LPT) following its all-stock acquisition valued at $13 billion. Liberty common shares were converted to Prologis stock, and dividends from 2020 onwards will be based on Prologis shares. The 2020 quarterly dividend was set at $0.41 per share, with payment made in January 2020. Shareholders can find comprehensive tax information on the Prologis website.

Prologis, Inc. (NYSE: PLD) has announced the tax treatment for its 2020 distributions, affecting common and preferred stockholders. Shareholders will receive an IRS Form 1099-DIV through Computershare. For common dividends, the taxable cash distribution per share is $0.58, with ordinary income of $0.538425. Shareholders should consult a tax advisor for proper reporting, as federal and state tax laws vary. The company continues to lead in logistics real estate, owning around 976 million square feet of properties across 19 countries.

Prologis (NYSE: PLD) announced that Nippon Prologis REIT (NPR) will issue new investment units, with expected net proceeds of JPY 34.3 billion ($331.7 million). NPR aims to use these funds to acquire three Class-A properties valued at JPY 62.2 billion ($600.9 million) from Prologis' Japan portfolio on February 8, 2021. Prologis retains a 15% ownership interest in NPR, which is managed by Prologis' wholly owned subsidiary. The issuance is set to close on February 2, 2021.

Prologis, Inc. (NYSE: PLD) announced $25.0 billion in investment activity for 2020, totaling over $131.4 billion since the 2011 merger with AMB. Key investment categories included $17.0 billion in M&A and $2.7 billion in development starts. The company promoted Dan Letter to global head of Capital Deployment, effective January 1, 2021, to enhance investment strategies amid growing market demand. Prologis manages a portfolio of approximately 976 million square feet across 19 countries, focusing on logistics real estate.