Prologis Inc. Stock Price, News & Analysis

Prologis (NYSE: PLD), a leader in logistics real estate, has successfully sold a portfolio of assets in the UK to Blackstone for £473 million ($618 million). This transaction marks the largest sale of logistics real estate in the UK to date and aligns with Prologis' strategic focus on key distribution locations. The portfolio includes 22 buildings totaling 4.3 million square feet and 31 acres of consented development land. The sale contributes to the company's 2020 disposition guidance of $1.3 to $1.5 billion.

Prologis (NYSE: PLD) reported third-quarter 2020 earnings with net earnings per diluted share at $0.40, down from $0.71 in Q3 2019. Core FFO was $0.90, compared to $0.97 year-over-year. The company recorded a period-end occupancy of 95.6% and a 72.8% lease retention rate, declining 810 basis points from Q2 2020. Revenue growth was driven by a 25.9% net effective rent change, led by a 30.7% increase in the U.S. Prologis anticipates improved guidance for 2020, projecting a Core FFO growth of 13.7% year-over-year and free cash flow after dividends at $1.1 billion.

Prologis, Inc. (NYSE: PLD), a leader in logistics real estate, will host a conference call on October 20, 2020, at 9:00 a.m. PT to discuss its third quarter results and market outlook. Interested parties can join by dialling +1 (833) 968-2252 or +1 (778) 560-2807 for international access. The call will also be available via webcast on Prologis' Investor Relations page. As of June 30, 2020, Prologis operated around 963 million square feet of properties across 19 countries.

Prologis, Inc. (NYSE: PLD), a global leader in logistics real estate, announced participation in two upcoming investor conferences. At the Evercore ISI 2020 Real Estate Conference on September 10, CEO Hamid R. Moghadam will discuss leveraging logistics platforms. CFO Thomas S. Olinger will speak at the BofA Securities 2020 Global Real Estate Conference on September 15. Prologis operates approximately 963 million square feet of logistics facilities across 19 countries, catering to about 5,500 customers in diverse sectors.

On September 4, 2020, Prologis declared a regular cash dividend of $0.58 per share for common stock, payable on September 30, 2020, to stockholders of record by September 17, 2020. Additionally, a dividend of $1.0675 per share will be paid to holders of the company’s 8.54% Series Q Cumulative Redeemable Preferred Stock, also on September 30, 2020. Prologis, a leader in logistics real estate, operates approximately 963 million square feet of properties across 19 countries.

Prologis (NYSE: PLD) has announced an expansion of its Community Workforce Initiative (CWI) aiming to train 25,000 individuals for logistics jobs by the end of 2025. Partnering with JFF, the initiative will offer an online training platform focusing on essential workforce skills and logistics-specific training, including virtual reality tools. Prologis will also fund community organizations to assist job seekers. The program responds to the growing demand for skilled logistics workers, with projections for 600,000 new jobs in the sector by 2026.

Prologis, Inc. (NYSE: PLD) released a new report updating the economic impact of its global operations, showing a substantial growth in logistics real estate. The report, prepared by Oxford Economics, indicates that the value of goods flowing through Prologis facilities has surged to $2.2 trillion, a 69% increase since 2017. This throughput now represents 3.5% of the GDP across 19 countries, compared to 2.4% in 2017. Additionally, Prologis supports around 850,000 jobs, reflecting a 57.4% increase in employment since 2017.

Prologis, a leader in logistics real estate, reported Q2 2020 net earnings per diluted share of $0.54, down from $0.60 in Q2 2019. Core funds from operations per diluted share rose to $1.11, compared to $0.77 a year earlier. Key metrics included a period-end occupancy rate of 95.7% and a 22.0% net effective rent change. Prologis ended the quarter with $4.6 billion in liquidity and a debt-to-market cap ratio of 20%. The company expects strong Core FFO growth of over 12.5% year-over-year for the second half of 2020, with projected earnings per diluted share guidance increased to between $2.06 and $2.18.

Prologis, Inc. (NYSE: PLD) will host a webcast and conference call on July 21, 2020 at 9:00 a.m. PT/12:00 p.m. ET to discuss its second quarter results, current market conditions, and future outlook. Investors can access the call by dialing +1 (833) 968-2252 or via a live webcast available on their website. The company, a leader in logistics real estate, owns properties totaling approximately 965 million square feet across 19 countries. A replay of the call will be available from July 21-28.