Sign in

    Prologis Inc (PLD)

    You might also like

    Prologis, Inc. is a global leader in logistics real estate, operating in high-barrier, high-growth markets across 19 countries on four continents . The company is structured into two main operating segments: the Real Estate Segment and the Strategic Capital Segment. Prologis focuses on owning, leasing, and developing logistics properties, with rental operations being the primary revenue driver . Additionally, the company manages unconsolidated co-investment ventures and has launched new business lines under the Essentials umbrella, focusing on energy, mobility, and operational essentials .

    1. Real Estate Segment - Owns, leases, and develops logistics properties, with rental operations as the primary revenue driver through operating leases and property cost reimbursements .
    2. Strategic Capital Segment - Manages unconsolidated co-investment ventures, generating revenue through asset and property management services, and is capitalized through private and public equity .
    3. Essentials - Focuses on new business lines in energy, mobility, and operational essentials, expected to grow significantly in the future .
    NamePositionStart DateShort Bio
    Hamid R. MoghadamChairman of the Board and CEODecember 2012Hamid R. Moghadam has been the Chairman of the Board since January 2000 and a Director since November 1997. He became the CEO at the end of December 2012 .
    Timothy D. ArndtChief Financial OfficerApril 2022Timothy D. Arndt has been the CFO since April 2022. He joined Prologis in 2004 and served as treasurer from December 2013 to April 2022 .
    Carter H. AndrusChief Operating OfficerJanuary 2024Carter H. Andrus has been the COO since January 2024. He was previously the global head of operations from January 2022 to January 2024 .
    Joseph GhazalChief Investment OfficerJanuary 2024Joseph Ghazal has been with Prologis for 23 years and became the CIO in January 2024. He was previously the Global Head of Capital Deployment .
    Edward S. NekritzChief Legal Officer, General Counsel, and SecretaryJune 2011Edward S. Nekritz has served as the Chief Legal Officer, General Counsel, and Secretary since the merger in June 2011. He joined the Trust in September 1995 .
    Colleen McKeownChief Human Resources OfficerN/AThe documents do not provide specific information about Colleen McKeown's start date or detailed biography as the Chief Human Resources Officer [N/A].
    Deborah K. BrionesUpcoming Chief Legal Officer and General CounselJanuary 1, 2025Deborah K. Briones will assume the role of Chief Legal Officer, General Counsel, and Secretary effective January 1, 2025. She has been with Prologis since 2004 .
    Nathaalie CareyUpcoming Chief Human Resources OfficerJanuary 1, 2025The documents do not provide specific information about Nathaalie Carey or her start date as the upcoming Chief Human Resources Officer [N/A].
    1. Despite noting that market rents decreased approximately 3% globally this quarter, with Southern California being a significant contributor , you've raised your acquisition guidance for the second straight quarter . How do you reconcile increasing acquisition activity with the softening rent environment, and what gives you confidence in pursuing acquisitions amid these market conditions?

    2. You've mentioned an uptick in lease commencements with terms less than one year, attributed to customer uncertainty and strategic positioning on rents . How does this trend of shorter lease terms impact your long-term leasing strategy and vacancy risk, and what measures are you taking to mitigate potential impacts on occupancy and rent growth?

    3. Given that vacancies are up and customers are taking longer to make decisions due to uncertainties, yet you reported strong leasing activity in Q3 , what catalysts do you foresee that will prompt customers to move from hesitant to more active in 2025, and how are you positioning the company to capitalize on potential demand recovery?

    4. With the reduction in your development starts guidance due to slow decision-making in build-to-suits and deferring new speculative development amidst stubborn demand , how do you plan to manage growth initiatives in light of these challenges, and what is your outlook for development activity as market conditions evolve?

    5. You've tightened and slightly reduced your net effective same-store growth forecast due to increased noncash write-offs from higher bankruptcies expected in the balance of the year . Do you anticipate this trend of rising bankruptcies to continue, and how might this affect your future financial performance and risk management strategies?

    YearAmount Due (in billions)Debt TypeInterest Rate (%)% of Total Debt
    20240.002 Secured Mortgage4.0 0.01% = (0.002 / 32.29) * 100
    20250.540 Unsecured Senior Notes, Term Loans, Secured Mortgage3.4 1.7% = (0.540 / 32.29) * 100
    20262.067 Unsecured Senior Notes, Term Loans3.3 6.4% = (2.067 / 32.29) * 100
    20272.678 Unsecured Senior Notes, Term Loans, Secured Mortgage2.2 8.3% = (2.678 / 32.29) * 100
    20282.701 Unsecured Senior Notes, Term Loans, Secured Mortgage3.2 8.4% = (2.701 / 32.29) * 100
    Thereafter24.896 Unsecured Senior Notes, Term Loans, Secured Mortgage3.2 77.1% = (24.896 / 32.29) * 100
    CustomerRelationshipSegmentDetails
    Amazon
    Logistics real estate tenant
    Real Estate
    6.4% of consolidated NER (34M sq ft); 5.0% of O&M NER (43M sq ft)
    Home Depot
    Logistics real estate tenant
    Real Estate
    2.2% of consolidated NER (15M sq ft); 1.5% of O&M NER (17M sq ft)
    FedEx
    Logistics real estate tenant
    Real Estate
    1.9% of consolidated NER (8M sq ft); 1.4% of O&M NER (11M sq ft)
    UPS
    Logistics real estate tenant
    Real Estate
    1.0% of consolidated NER (6M sq ft); 0.8% of O&M NER (9M sq ft)
    Geodis
    Logistics real estate tenant
    Real Estate
    0.9% of consolidated NER (6M sq ft); 1.3% of O&M NER (17M sq ft)
    Wal-Mart
    Logistics real estate tenant
    Real Estate
    0.8% of consolidated NER (6M sq ft)
    DHL
    Logistics real estate tenant
    Real Estate
    0.8% of consolidated NER (4M sq ft); 1.2% of O&M NER (13M sq ft)
    Wayfair
    Logistics real estate tenant
    Real Estate
    0.6% of consolidated NER (6M sq ft)
    DSV Panalpina
    Logistics real estate tenant
    Real Estate
    0.6% of consolidated NER (2M sq ft); 0.8% of O&M NER (8M sq ft)
    NFI Industries
    Logistics real estate tenant
    Real Estate
    0.6% of consolidated NER (3M sq ft)
    CEVA Logistics
    Logistics real estate tenant
    Real Estate
    0.9% of O&M NER (13M sq ft)
    Maersk
    Logistics real estate tenant
    Real Estate
    0.8% of O&M NER (7M sq ft)
    GXO
    Logistics real estate tenant
    Real Estate
    0.8% of O&M NER (10M sq ft)
    NameStart DateEnd DateReason for Change
    KPMG LLP2002 PresentCurrent auditor