SAN FRANCISCO – Prologis , Inc. (NYSE: NYSE:), a global leader in logistics real estate, has declared its quarterly cash dividends. The company announced a dividend of $0.96 per share on its common stock, payable on June 28, 2024, to shareholders of record as of June 17, 2024. Additionally, a dividend of $1.0675 per share will be paid on the 8.54% Series Q Cumulative Redeemable Preferred Stock, with a payment date set for July 1, 2024, for stockholders on record at the close of business on the same date.
Prologis holds a significant position in the logistics real estate market, focusing on areas with high growth potential and entry barriers. As of the end of the first quarter, the company’s portfolio included approximately 1.2 billion square feet of properties and development projects across 19 countries. Serving a diverse client base of around 6,700 customers, Prologis caters to both business-to-business and retail/online fulfillment sectors.
The company’s forward-looking statements indicate expectations of continued growth in rent and occupancy, as well as active participation in property acquisitions and developments. These projections are based on current market conditions and management’s beliefs, although they are subject to risks and uncertainties that could affect the company’s financial results.
Prologis’ strategic ventures and the availability of capital for new and existing projects are also highlighted as key focus areas. The company’s financial activities and REIT status are maintained with careful consideration of market risks, including economic climates, interest rates, competition, and international business risks, among others.
This announcement is based on a press release statement and contains forward-looking statements that involve uncertainties. These should not be seen as guarantees of future performance, and actual results may differ from those projected. Investors should note that Prologis’ future outcomes are subject to various factors, including economic conditions, market changes, and environmental risks.
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InvestingPro Insights
Prologis, Inc. (NYSE: PLD) has recently affirmed its commitment to shareholder returns with the declaration of its quarterly cash dividends. This move is consistent with the company’s history of dividend growth, as highlighted by one of the InvestingPro Tips, which notes that Prologis has raised its dividend for 10 consecutive years. Furthermore, the company’s position as a prominent player in the Industrial REITs industry is underpinned by a solid financial foundation, with a market capitalization of $101.79B USD.
Investors may also be interested in the company’s price-to-earnings (P/E) ratio, which stands at 31.48, indicating a high valuation compared to near-term earnings growth. This aligns with another InvestingPro Tip, which points out that Prologis is trading at a high P/E ratio relative to near-term earnings growth. Despite this, analysts have revised their earnings upwards for the upcoming period, suggesting optimism about the company’s future performance.
For those looking to delve deeper into Prologis’ financial health, the company’s revenue for the last twelve months as of Q1 2024 was $8515.42M USD, with a robust revenue growth of 24.62%. Additionally, the gross profit margin was an impressive 75.82%, reflecting the company’s efficiency in managing its cost of sales.
Investors seeking comprehensive analysis and additional insights can find more InvestingPro Tips by visiting https://www.investing.com/pro/PLD. There are 11 additional tips available, offering a more detailed perspective on Prologis’ financial metrics and market position. For those interested in subscribing to the service, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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