Prologis Inc. Stock Price, News & Analysis

Prologis, Inc. (NYSE: PLD) reported Q1 2021 net earnings per diluted share of $0.49, down from $0.70 in Q1 2020, primarily due to $187 million in debt extinguishment costs. Core FFO per diluted share rose to $0.97 from $0.83 year-over-year. Despite a slight decline in average occupancy to 95.4%, demand remains strong, with net effective rent increasing by 27%. The company raised its 2021 earnings guidance, projecting net earnings between $2.80 to $2.90 per diluted share, marking a 16.8% increase. Prologis anticipates continuing strong performance in logistics real estate.

Prologis, Inc. (NYSE: PLD) will hold its annual stockholders meeting on Thursday, April 29, 2021, at 1:30 p.m. PT / 4:30 p.m. ET. This virtual meeting is open to stockholders of record as of March 8, 2021. Stockholders can access the live webcast through the provided link. A replay will be available in the Investor Relations section on www.prologis.com. As of December 31, 2020, Prologis is a leader in logistics real estate, managing approximately 984 million square feet across 19 countries.

Prologis, Inc. (NYSE: PLD) will host a conference call and webcast on April 19, 2021, at 9:00 a.m. PT to discuss its first-quarter results and market outlook. The call can be accessed via phone or live webcast on their website. As of December 31, 2020, Prologis held properties totaling approximately 984 million square feet across 19 countries. The company emphasizes its leadership in logistics real estate, catering to a diverse customer base of around 5,500 clients.

Prologis, Inc. (NYSE: PLD) will participate in two upcoming virtual conferences, the Citi 2021 Global Property CEO Conference on March 10 at 11:15 a.m. ET and the BofA Consumer and Technology Conference on March 11 at 12:30 p.m. ET. CEO Hamid R. Moghadam and CFO Thomas S. Olinger will present an overview of the company, discussing market conditions and future outlook at the Citi event. Both sessions will be accessible via webcast for extended periods, and presentation materials will be available on Prologis' Investor Relations website.

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.