The company said that as of June 30, 2024, it owned or had investments in properties and development projects, on a wholly-owned basis or through co-investment ventures, totaling about 1.2 billion square feet (115 million square meters) in 19 countries. It leases to about 6,700 customers.

1. 01

   The company said that as of June 30, 2024, it owned or had investments in properties and development projects, on a wholly-owned basis or through co-investment ventures, totaling about 1.2 billion square feet (115 million square meters) in 19 countries. It leases to about 6,700 customers.

2. 02

   On a Prologis Share basis, the company cited an estimated value creation of $739M from development stabilizations over the trailing 12 months and annualized NOI of $5.9B. It said NOI is a non-GAAP measure.

3. 03

   The company reported Gross AUM of $199B, Prologis Share AUM of $140B and Market Equity of $107B. Strategic capital fees and promotes were $272M, a figure that mixes annualized 2Q 2024 amounts with trailing 12-month items rather than amounts for periods after Q3.

4. 04

   The company said it is further adjusting Core FFO in its 2024 guidance to exclude net promote expense of $0.07. It explained that the expense primarily relates to amortization of stock compensation issued to employees related to promote income recognized in prior periods.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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

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