Prologis Inc. Stock Price, News & Analysis

Prologis (NYSE: PLD) announced a special meeting for stockholders to vote on the proposed merger with Duke Realty on September 28, 2022, at 9:00 a.m. PT. Stockholders recorded as of August 8, 2022, are eligible to vote. Prologis is a leader in logistics real estate with approx. 1.0 billion square feet of properties across 19 countries, serving around 5,800 customers. Duke Realty operates approximately 167.3 million rentable square feet in major logistics markets. The merger informs strategic growth in the logistics sector.

Prologis (NYSE: PLD) reported Q2 2022 net earnings per diluted share of $0.82, slightly up from $0.81 in Q2 2021. Core FFO per diluted share rose to $1.11 from $1.01 year-over-year. With a 97.6% average occupancy rate, the company commenced leases totaling 51.3 million square feet. Notably, net effective rent increased by 45.6%, driven mainly by the U.S. Prologis maintains strong liquidity with approximately $5.2 billion on hand and revised its 2022 net earnings guidance to $5.15 to $5.25 per diluted share, reflecting a 5.6% increase.

Prologis, Inc. (NYSE: PLD) will host a webcast and conference call on July 18, 2022, at 9:00 a.m. PT to discuss its second quarter results, market conditions, and future outlook. Investors can participate via phone or through the webcast available on the company's website. A telephonic replay will be accessible from July 18 to August 1. As of March 31, 2022, Prologis managed properties totaling approximately 1.0 billion square feet across 19 countries, serving around 5,800 customers.

Cedar Fair (NYSE: FUN) has announced the sale of its California's Great America amusement park land to Prologis (NYSE: PLD) for approximately $310 million, retaining a long-term lease for continued operation. This transaction is part of a strategic review aimed at maximizing asset value, allowing Cedar Fair to focus on reducing debt and reinvesting in high-return projects. The company aims to reach a $2 billion debt target and plans to reinstate quarterly unitholder distributions by Q3 2022, pending board approval.

Prologis (NYSE: PLD) has announced a commitment to achieve net zero emissions across its value chain by 2040, with interim targets including 1 GW of solar capacity by 2025 and net zero operations by 2030. The company has been carbon neutral for scope 1 and 2 emissions since 2019. Its recent 2021-22 ESG report highlights several initiatives such as the installation of 325 MW of solar and investments in energy services, including EV charging stations. Prologis aims to support its customers' sustainability goals while reinforcing its industry leadership in green initiatives.

Prologis (NYSE: PLD) has announced a definitive merger agreement to acquire Duke Realty (NYSE: DRE) in an all-stock transaction valued at approximately $26 billion, including debt assumption. Both boards unanimously approved the deal. Prologis gains high-quality properties across key U.S. logistics markets, totaling 153 million square feet. The transaction is expected to create immediate cost savings of $310-$370 million and increase annual core funds from operations by $0.20-$0.25 per share in the first year. The merger is anticipated to close in Q4 2022, pending shareholder approval.

Prologis, the logistics real estate leader, announced that CFO Tim Arndt will present at REITWeek 2022 on June 8 at 3:30 p.m. ET in New York. The 30-minute session will be accessible via live webcast, available for 90 days. An updated Investor Presentation will be released on June 7. As of March 31, 2022, Prologis manages approximately 1.0 billion square feet of properties across 19 countries, serving around 5,800 customers in business-to-business and retail/online fulfillment sectors.

Prologis has proposed an all-stock acquisition of Duke Realty, offering 0.466 shares of Prologis for each Duke Realty share, valuing it at $61.68—representing a 29% premium over Duke's previous closing price. CEO Hamid R. Moghadam emphasizes significant growth potential and synergies from the merger, citing a strong track record of successful acquisitions. Prologis has sought engagement since November 2021, but Duke Realty has not substantively responded. The transaction promises immediate value and long-term benefits for shareholders.

The Board of Directors of Prologis declared a cash dividend of $0.79 per share for Q2 2022, to be paid on June 30, 2022. Shareholders of record by June 16, 2022 will receive this dividend. Additionally, a dividend of $1.0675 for the Series Q Cumulative Redeemable Preferred Stock will also be paid on the same date to record holders by June 17, 2022. At its 2022 annual stockholder meeting, Prologis elected 11 directors and approved executive compensation and the appointment of KPMG LLP as auditors.