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) 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.
Prologis (NYSE: PLD) announced the results of its cash Tender Offer for up to €350 million in specified debt securities as of June 26, 2020. €313,084,000 in notes was validly tendered before the Early Tender Time. The early settlement, anticipated for June 30, 2020, will see holders receiving €1,040 or €1,110 per €1,000 of the 2022 and 2024 notes, respectively. The Tender Offer is scheduled to expire on July 14, 2020, with certain conditions already satisfied. Prologis is not soliciting consents from note holders.
Prologis has initiated a cash tender offer for up to €350 million of certain outstanding debt securities. This includes a sub-limit of €100 million for 2024 Notes due February 2024. The tender offer will expire on July 14, 2020, with early tender by June 26, 2020, offering a total consideration of €1,040 for 2022 Notes and €1,110 for 2024 Notes, including early tender payments. The offer is subject to certain conditions and will prioritize acceptance based on specified levels. Detailed terms are outlined in the Offer to Purchase.