文章核心观点 - 公司FIBRA Prologis是墨西哥领先的甲级工业房地产所有者和运营商 [1] - 公司的信用评级被惠誉评级机构维持在BBB级,评级展望为稳定,高于墨西哥主权评级 [1] 公司概况 - 截至2024年6月30日,公司拥有236个物流和制造设施,总建筑面积为4690万平方英尺(440万平方米) [3] - 公司在墨西哥6个工业市场运营 [3] 未来展望 - 公司未来的经营业绩和发展可能受到多方面因素的影响,包括宏观经济、金融市场、竞争、收购兼并、税收等 [4] - 公司将继续保持房地产投资信托(FIBRA)的税收地位 [4] - 公司将继续维持适当的债务水平和信用评级 [4] - 公司将密切关注与新冠疫情相关的风险 [4]

Justin Paget Introduction Prologis (NYSE:PLD) has underperformed the Vanguard Real Estate Index Fund ETF (VNQ) so far in 2024, delivering a circa 5% loss against the mid-single-digit gain for the benchmark ETF: PLD vs VNQ in 2024 (Seeking Alpha) Despite the underperformance, I reckon the shares are worth a Hold rating due to: A capital structure with only 22% debt, limiting the boost from Fed rate cuts. An elevated valuation in terms of Core FFO multiple and market-implied cap rate that decreases the ...

SAN FRANCISCO, Aug. 19, 2024 /PRNewswire/ -- Prologis, Inc. (NYSE:PLD), the global leader in logistics real estate, today announced that Ted Eliopoulos is joining the company as managing director, Strategic Capital. A seasoned and respected investment management executive, Eliopoulos will help Prologis continue to grow its private investment business, bringing years of experience and deep expertise. Eliopoulos will work closely with Karsten Kallevig, global head of Strategic Capital. Both leaders will repor ...

Justin Paget Summary Prologis (PLD) is the largest owner/operator of industrial real estate in the world. It is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of Q2 '24, it owns and/or manages ~1.2Bn of modern logistics facilities in 19 countries leased to a diverse base of ~6,700 tenants, largely in two major categories: B2B and retail/online fulfilment. We have followed its Series Q preferred shares since November of last year. At that time, we found the s ...

文章核心观点 - 公司第二季度核心FFO超出预期,但同比下降 [3] - 租金收入同比增长,但利息费用上升是一个负面因素 [4] - 公司管理层表示客户需求虽然疲软但正在改善,未来增长前景乐观 [5] 公司经营情况 - 公司租金收入为18.5亿美元,略低于预期,但同比增长 [6] - 公司拥有和管理的物业租赁面积达4660万平方英尺,租赁率为96.1% [7][8] - 公司净有效租金增长率为73.9%,现金租金增长率为51.4%,现金同店NOI增长7.2% [9] - 公司在第二季度完成2.79亿美元的物业收购,加上2.04亿美元的开发项目稳定,总处置和贡献额为9.4亿美元 [10] 财务状况 - 公司第二季度利息费用同比增加39%至2.083亿美元 [11] - 公司第二季度末现金及现金等价物为5.983亿美元,总流动性达64.5亿美元 [12] - 公司债务占总市值比例为23.7%,加权平均利率为3.1%,加权平均期限为9.3年 [13] - 公司及其合资企业在本季度发行了12亿美元的债务,加权平均利率为4.4%,加权平均期限为10.9年 [14] 指引调整 - 公司上调了2024年核心FFO指引至5.39-5.47美元,中值增加0.2% [15] - 公司维持了平均租赁率和现金同店NOI增长率的指引不变 [16] - 公司调高了资本部署指引,包括增加收购和处置的预期金额 [17]

PixelbizzIntroduction I wrote an article about Prologis (NYSE:PLD) a bit more than a year ago in July 2022: "Prologis: Deglobalization Could Be The Next Dominant Tailwind For This REIT." I rated Prologis as a "buy" due to "deglobalization" being a major tailwind for the stock. Since then, Prologis' stock has had a price return of -4.58% and a total return of -1.74% against the S&P 500's return of 18.62%. In my first article, I explained how deglobalization could unfold in the coming years and how that c ...

MEXICO CITY, Aug. 7, 2024 /PRNewswire/ -- FIBRA Prologis (BMV:FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, declared today a cash distribution of Ps. 1,049.5 million (US$54.2 million), or Ps. 0.6828 per Certificado Bursátil Fiduciario Inmobiliario ("CBFI") (US$ 0.0352 per CBFI).The distribution is payable August 20, 2024, to CBFI holders.Ex-dividend date of August 19, 2024.Record date of August 19, 2024.Legal Basis Concept Generated Payment Date Total Amount (Ps$) Nu ...

MEXICO CITY, Aug. 6, 2024 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class A industrial real estate in Mexico, has acquired a significant majority of Terrafina's CBFIs, representing 77.14% of the outstanding certificates. This move further solidifies FIBRA Prologis' position as a leading player in Mexico's industrial real estate sector."We are delighted to have secured control of Terrafina with more than three-quarters of shareholders supporting FIBRA Prologis' tender. ...

SAN FRANCISCO, Aug. 6, 2024 /PRNewswire/ -- FIBRA Prologis today closed on its tender offer to acquire shares of FIBRA Terrafina with 77.14% of all shares under FIBRA Prologis control. Prologis, Inc. (NYSE:PLD), the global leader of logistics real estate, sponsors FIBRA Prologis, which acquires, owns and manages Class-A industrial real estate in Mexico's most desirable economic markets.FIBRA Terrafina manages approximately 42.2 million square feet of industrial real estate across several key markets, which ...

MEXICO CITY, Aug. 6, 2024 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class A industrial real estate in Mexico, announces that the settlement of its tender offer (the "Offer") to acquire up to 100% of the real estate trust certificates (certificados bursátiles fiduciarios inmobiliarios) issued by CIBanco, S.A., Institución de Banca Múltiple, as trustee of the irrevocable trust agreement number F/00939 ("Terrafina"), identified with ticker symbol "TERRA 13" ("Terrafina C ...