Prologis said its O&M operating portfolio occupancy was 97.0% as of March 31, 2024, and rent change on leases that commenced in Q1 2024, on a net effective basis for its ownership share, was 67.6%.

10-QQuarterly reportFiled Apr 25, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Prologis said its O&M operating portfolio occupancy was 97.0% as of March 31, 2024, and rent change on leases that commenced in Q1 2024, on a net effective basis for its ownership share, was 67.6%.
The company said it had total available liquidity of $5.8 billion as of March 31, 2024, consisting of borrowing capacity on its credit facilities of $5.3 billion and unrestricted cash of $501 million. The weighted average remaining maturity of its consolidated debt was 10 years, and the weighted average interest rate was 3.0%.
The company invested and advanced $315 million to its unconsolidated co-investment ventures on a proportionate-share basis in Q1 2024, compared with $40 million in the same period of 2023. The company said the ventures used the funds to acquire properties, for development and to repay debt.
The company paid a quarterly cash dividend of $0.96 per common share in Q1 2024, compared with $0.87 in Q1 2023. The company said future dividends may vary and will be determined by the Board based on circumstances at the time.

Key figures

Quarter ended March 31, 2024

Revenue: $2.0B
Operating income: $720M
Net income: $586M
EPS: $0.63
Operating cash flow: $1.1B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 2024 Lease Renewals and Occupancy

Prologis said its O&M operating portfolio occupancy was 97.0% as of March 31, 2024, and rent change on leases that commenced in Q1 2024, on a net effective basis for its ownership share, was 67.6%.

Source · Based on the MD&A text of the filing

Available Liquidity and Debt Position $5.8 billion

The company said it had total available liquidity of $5.8 billion as of March 31, 2024, consisting of borrowing capacity on its credit facilities of $5.3 billion and unrestricted cash of $501 million. The weighted average remaining maturity of its consolidated debt was 10 years, and the weighted average interest rate was 3.0%.

Source · Based on the MD&A text of the filing

Cash Outflows for Unconsolidated Co-Investment Ventures

The company invested and advanced $315 million to its unconsolidated co-investment ventures on a proportionate-share basis in Q1 2024, compared with $40 million in the same period of 2023. The company said the ventures used the funds to acquire properties, for development and to repay debt.

Source · Based on the MD&A text of the filing

Quarterly Cash Dividend of $0.96 per Share

The company paid a quarterly cash dividend of $0.96 per common share in Q1 2024, compared with $0.87 in Q1 2023. The company said future dividends may vary and will be determined by the Board based on circumstances at the time.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.