Key Developments: Prologis Inc (PLD)
42.45USD
24 May 2013
$0.07 (+0.17%)
$42.38
$42.17
$42.56
$41.65
1,895,458
3,289,638
$45.52
$30.03
Latest Key Developments (Source: Significant Developments)
Prologis Inc Declares Quarterly Dividends
Prologis Inc announce that Board of Directors declared a regular cash dividend for the quarter ending June 30, 2013 on the following securities: A dividend of $0.28 per share of the Company's common stock, which will be payable on June 28, 2013 to common stockholders of record at the close of business on June 11, 2013; and A dividend of $1.0675 per share on the Company's 8.54% Series Q Cumulative Redeemable Preferred Stock, which will be payable on July 1, 2013 to Series Q stockholders of record at the close of business on June 18, 2013. Full Article
Prologis Inc Announces Pricing Of Common Stock Offering
Prologis Inc announced the pricing of 31 million shares of its common stock in a public offering at a price of $41.60 per share. Prologis has granted the underwriters a 30-day option to purchase up to an additional 4.65 million shares of its common stock to cover over-allotments, if any. Morgan Stanley, J.P. Morgan, Goldman, Sachs & Co., and Wells Fargo Securities acted as joint bookrunners for the offering. Subject to customary conditions, the offering is expected to close on or about April 30, 2013. Full Article
Prologis Inc Announces To Offer 31 Million Shares Of Common Stock
Prologis Inc announced that it intends to offer 31 million shares of its common stock in a registered public offering. Prologis also plans to grant the underwriters a 30-day option to purchase up to 4.65 million additional shares of its common stock to cover sales in excess of the number of shares of its common stock initially sold. Morgan Stanley and J.P. Morgan are acting as joint bookrunners for the proposed offering. Prologis intends to use the net proceeds for general corporate purposes, including investment in co-investment ventures, debt repayment, and potential incremental acquisitions and development. In the short term, Prologis expects to use a portion of the net proceeds to repay global line borrowings and its 6.30% Senior Notes due 2013 and to repurchase 2.625% Convertible Senior Notes due 2038. Affiliates of Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are lenders under the global line. Full Article
Prologis Inc Reaffirms FY 2013 FFO Guidance
Prologis Inc announced that it maintains its fiscal 2013 Core FFO guidance range of $1.60 to $1.70 per diluted share. The Company also expects to recognize net earnings, for GAAP purposes, of $0.55 to $0.65 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $1.65 for fiscal 2013. Full Article
Prologis Inc Signs 770,000 Square Foot Build-To-Suit with SpeedFC
Prologis Inc announced that it has signed a new build-to-suit agreement with SpeedFC, a repeat customer and a provider of services, for a 770,000 square foot distribution center in Etna, Ohio. The new facility will be located at Prologis Park 70 Etna, proximate to freeways and Port Columbus International Airport. The e-commerce facility will include numerous energy-efficient features. With this agreement, Prologis' relationship with SpeedFC will extend to more than 1.3 million square feet in two U.S. markets. Full Article
Prologis Inc Declares Quarterly Dividends
Prologis Inc announced a dividend of $0.28 per share of the Company's common stock, which will be payable on March 29, 2013 to common stockholders of record at the close of business on March 12, 2013; dividend of $1.0675 per share on the company's 8.54% Series Q Cumulative Redeemable Preferred Stock, which will be payable on April 1, 2013 to Series Q stockholders of record at the close of business on March 19, 2013; dividend of $0.421875 per share of the company's 6.75% Series R Cumulative Redeemable Preferred Stock, which will be payable on April 1, 2013 to Series R stockholders of record at the close of business on March 19, 2013; dividend of $0.421875 per share of the company's 6.75% Series S Cumulative Redeemable Preferred Stock, which will be payable on April 1, 2013 to Series S stockholders of record at the close of business on March 19, 2013; dividend of $0.40625 per share of the company's 6.50% Series L Cumulative Redeemable Preferred Stock, which will be payable on April 15, 2013 to Series L stockholders of record at the close of business on March 19, 2013; dividend of $0.421875 per share of the company's 6.75% Series M Cumulative Redeemable Preferred Stock, which will be payable on April 15, 2013 to Series M stockholders of record at the close of business on March 19, 2013. Full Article
Prologis Inc Issues FY 2013 FFO Guidance Below Analysts' Estimates
Prologis Inc announced that it has established a fiscal 2013 Core FFO guidance range of $1.60 to $1.70 per diluted share. On a GAAP basis, the Company expects to recognize a range of a net loss of ($0.07) per share to net earnings of $0.03 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $1.73 for fiscal 2013. Full Article
Prologis Inc Forms Joint Venture With Norges Bank Investment Management In Europe
Prologis Inc announced the signing of a definitive agreement to form Prologis European Logistics Partners Sàrl, a euro-denominated joint venture. The venture will acquire a portfolio of high-quality distribution facilities wholly owned by Prologis in 11 target European global markets. Prologis' partner is Norges Bank Investment Management (NBIM), which is the manager of the Norwegian Government Pension Fund Global. Prologis European Logistics Partners will be structured as a 50 / 50 joint venture with an equity commitment of EUR2.4 billion ($3.1 billion), which includes a EUR1.2 billion ($1.55 billion) co-investment by both NBIM and Prologis. Upon closing, the venture will acquire a stabilized portfolio of 195 properties totaling approximately 49 million square feet (4.5 million square meters); about 75% of the properties coming from the former ProLogis European Properties (PEPR) fund and the remaining 25% coming from other Prologis wholly owned assets. Full Article
Prologis Inc Declares Quarterly Dividends
Prologis Inc announced that a dividend of $0.28 per share of the Company's common stock, payable on December 28, 2012 to common stockholders of record on December 17, 2012; dividend of $1.0675 per share on the Company's 8.54% Series Q Cumulative Redeemable Preferred Stock, payable on December 31, 2012 to Series Q stockholders of record on December 19, 2012; dividend of $0.421875 per share of the Company's 6.75% Series R Cumulative Redeemable Preferred Stock, payable on December 31, 2012 to Series R stockholders of record on December 19, 2012; dividend of $0.421875 per share of the Company's 6.75% Series S Cumulative Redeemable Preferred Stock, payable on December 31, 2012 to Series S stockholders of record on December 19, 2012; dividend of $0.40625 per share of the Company's 6.50% Series L Cumulative Redeemable Preferred Stock, payable on January 15, 2013 to Series L stockholders of record on December 19, 2012; dividend of $0.421875 per share of the Company's 6.75% Series M Cumulative Redeemable Preferred Stock, payable on January 15, 2013 to Series M stockholders of record on December 19, 2012; A dividend of $0.4375 per share of the Company's 7.00% Series O Cumulative Redeemable Preferred Stock, payable on January 15, 2013 to Series O stockholders of record on December 19, 2012; and dividend of $0.428125 per share of Company's 6.85% Series P Cumulative Redeemable Preferred Stock, payable on January 15, 2013 to Series P stockholders of record on December 19, 2012. Full Article
Prologis Inc Leases More Than 1.1 Million Square Feet in Three Japan Development Projects
Prologis Inc announced four new lease agreements totaling approximately 1.1 million square feet (104,269 square meters) in its Japan development portfolio. The transactions include: 349,300 square feet (32,450 square meters) with a Japanese third party logistics provider. This new, 100 percent-leased build-to-suit is located at Prologis Park Kobe within the Osaka market and includes a seismic isolation system. Construction is scheduled to begin in November 2012; and 230,000 square feet (21,400 square meters) with Hitachi Transport System, a third party logistics provider, at Prologis Park Osaka 4. The building was completed in May 2012 and totals more than 1.1 million square feet (106,135 square meters); and 543,000 square feet (50,450 square meters) in two transactions with a major third party logistics provider. The first transaction, for 224,000 square feet (20,800 square meters), is located at Prologis Park Osaka 4. The second transaction is located in the Tokyo market at Prologis Park Zama 2 and totals 319,000 square feet (29,600 square meters), bringing the total percentage leased to 90%, well ahead of the underwritten lease up. Zama 2 was completed in August 2012 and is a facility with premium safety features, including Prologis' patented seismic isolation system, electric generators, and a groundwater remediation system. Full Article
Blackstone, Prologis pay $960 million for warehouses: sources
NEW YORK - Blackstone Group LP and Prologis Inc have agreed to buy a portfolio of 17 million square feet of warehouse and distribution centers whose majority owner is Lehman Brothers for about $960 million, two sources familiar with the deal said on Wednesday.
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