Prologis (PLD) Stock News

Prologis (NYSE: PLD) has declared its quarterly dividend for Q3 2024. Common stockholders will receive $0.96 per share, while holders of the 8.54% Series Q Cumulative Redeemable Preferred Stock will receive $1.0675 per share. Both dividends are payable on September 30, 2024, to stockholders of record as of September 16, 2024. This announcement demonstrates Prologis' commitment to delivering consistent returns to its shareholders and reflects the company's financial stability in the real estate investment trust (REIT) sector.

Prologis (NYSE:PLD), the global leader in logistics real estate, has announced the appointment of Ted Eliopoulos as managing director of Strategic Capital. Eliopoulos, a seasoned investment management executive, will work alongside Karsten Kallevig, global head of Strategic Capital, to grow Prologis' private investment business. Both will report to Dan Letter, Prologis' global president.

Eliopoulos brings extensive experience from his roles at Calvert Research and Management, Morgan Stanley Investment Management, and CalPERS. His appointment is expected to contribute significantly to Prologis' growth trajectory, particularly in its Strategic Capital business. Eliopoulos expressed enthusiasm about focusing on logistics real estate and leveraging Prologis' unique market advantages.

Prologis (NYSE: PLD), the global leader in logistics real estate, has announced the appointment of Ted Eliopoulos as managing director of Strategic Capital. Eliopoulos, a seasoned investment management executive, will focus on growing Prologis' private investment business. He will work closely with Karsten Kallevig, global head of Strategic Capital, and report to Dan Letter, Prologis' global president.

Eliopoulos brings extensive experience from his previous roles, including managing director and senior advisor at Calvert Research and Management, vice chairman & head of Strategic Partnerships at Morgan Stanley Investment Management, and chief investment officer of CalPERS. His expertise in real assets and global partnerships aligns with Prologis' growth ambitions in the logistics real estate sector.

CEO Hamid R. Moghadam emphasized the significance of the Strategic Capital business for Prologis' growth trajectory and expressed confidence in Eliopoulos' ability to help meet the company's ambitious goals.

FIBRA Prologis has successfully acquired a 77.14% majority stake in FIBRA Terrafina, significantly expanding its presence in the Mexican industrial real estate market. This acquisition adds approximately 42.2 million square feet of industrial real estate across key markets to FIBRA Prologis' existing portfolio of 46.9 million square feet. The move demonstrates Prologis' long-term commitment to Mexico, capitalizing on favorable market conditions with nearly 100% occupancy rates and continuous rental growth.

The acquisition is expected to benefit shareholders, customers, and the Mexican economy. FIBRA Prologis aims to leverage its scale, operational expertise, and investments to drive business growth for both entities. The company sees significant potential in nearshoring trends, with Latin America projected to experience rent growth at double the global average.

Prologis (NYSE: PLD), the global leader in logistics real estate, reported its Q2 2024 results. Net earnings per diluted share were $0.92, down from $1.31 in Q2 2023. Core FFO per diluted share was $1.34, compared to $1.83 in the same period last year. The company's average occupancy rate remained strong at 96.1%, with a cash same store NOI growth of 7.2%. Despite subdued customer demand, Prologis sees improving trends and expects continued growth, particularly in data centers and energy sectors. The company maintains a strong financial position with debt-to-EBITDA below 5.0x and $6.5 billion in available liquidity. Prologis revised its 2024 guidance, slightly increasing net earnings and Core FFO projections.

Prologis (NYSE: PLD), a global leader in logistics real estate, announced it will release its second quarter 2024 financial results on July 17, 2024. The release will be accompanied by a webcast and conference call featuring the company's senior management to discuss the results, current market conditions, and future outlook. The event is scheduled for 9:00 a.m. PT/12:00 p.m. ET. Interested parties can access the live broadcast by dialing +1 (877) 897-2615 (US and Canada) or +1 (201) 689-8514 (international). The webcast will also be available on the Investor Relations section of Prologis' website. A replay of the call will be available from July 17 to July 31, 2024, using access code 13747329.

Prologis, a leader in logistics real estate, announced its participation in two major industry conferences in New York City. Co-founder and CEO Hamid Moghadam will present at the Bernstein 40th Annual Strategic Decisions Conference on May 30 at 1:30 p.m. ET. Additionally, President Dan Letter and CFO Tim Arndt will present at REITWeek 2024: NAREIT's Investor Forum on June 5 at 10:15 a.m. ET. Both presentations will be broadcast live via audio webcast and can be accessed on the Prologis investor relations website.

Prologis and Performance Team announced the launch of Southern California's largest heavy-duty EV charging depot, capable of servicing 96 trucks simultaneously. Located near the Ports of Los Angeles and Long Beach, the depot was constructed in just five months and is powered by the nation's largest EV truck microgrid. The facility supports the industry's shift towards decarbonized supply chains and California's clean transportation goals. It uses Volvo VNR Electric trucks with a 240-mile range and 80% charge capacity in 90 minutes. Key partnerships and innovative solutions were pivotal in overcoming energy supply challenges, expediting the project delivery.

Prologis (NYSE: PLD) announced that Ed Nekritz, Chief Legal Officer, and Colleen McKeown, Chief Human Resources Officer, will retire effective January 1, 2025. Deborah Briones, currently Deputy General Counsel, and Nathaalie Carey, Senior VP of Human Resources, will succeed them. Nekritz and McKeown will remain as senior advisors in 2025.

Briones has been with Prologis since 2004, leading various legal teams and initiatives. As CLO, she will oversee all legal aspects, including corporate governance and compliance. Carey, who joined in 2022, leads HR operations and DEIB programs. As CHRO, she will manage workforce development and HR functions.

CEO Hamid R. Moghadam praised both successors for their expertise. Nekritz and McKeown have significantly contributed to Prologis' growth and resilience, including guiding the company through major mergers and the COVID-19 pandemic.