Prologis said its operating portfolio occupancy, based on its ownership share, was 96.2% as of September 30, 2024, and rent change on leases commenced over the 9 months ended 2024 was 69.5% on a net effective basis.

10-QQuarterly reportFiled Oct 25, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Prologis said its operating portfolio occupancy, based on its ownership share, was 96.2% as of September 30, 2024, and rent change on leases commenced over the 9 months ended 2024 was 69.5% on a net effective basis.
The company said it generated net proceeds of $2.4 billion and realized net gains of $811 million in 2024, principally from the contribution of properties to unconsolidated co-investment ventures in the U.S. and Europe and from sales of non-strategic properties to third parties in the U.S. It also said it acquired 225 acres of land in India through a consolidated joint venture.
The company said total available liquidity was $6.6 billion as of September 30, 2024, the weighted average remaining maturity of its consolidated debt was 10 years, and the weighted average interest rate was 3.1%. It also said its refinancing activities have substantially addressed its debt maturities through 2026.
The company said it paid quarterly cash dividends of $0.96 and $0.87 per common share in each of the first three quarters of 2024 and 2023, respectively. Cash paid for interest, net of amounts capitalized, was $573 million in 2024 and $340 million in 2023.

Key figures

Quarter ended September 30, 2024

Revenue: $2.0B
Operating income: $1.3B
Net income: $1.0B
EPS: $1.08

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.

Occupancy and Rent Change in the Operating Portfolio

Prologis said its operating portfolio occupancy, based on its ownership share, was 96.2% as of September 30, 2024, and rent change on leases commenced over the 9 months ended 2024 was 69.5% on a net effective basis.

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

Net Disposition Proceeds and India Land Acquisition

The company said it generated net proceeds of $2.4 billion and realized net gains of $811 million in 2024, principally from the contribution of properties to unconsolidated co-investment ventures in the U.S. and Europe and from sales of non-strategic properties to third parties in the U.S. It also said it acquired 225 acres of land in India through a consolidated joint venture.

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

Liquidity and Consolidated Debt Position

The company said total available liquidity was $6.6 billion as of September 30, 2024, the weighted average remaining maturity of its consolidated debt was 10 years, and the weighted average interest rate was 3.1%. It also said its refinancing activities have substantially addressed its debt maturities through 2026.

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

Quarterly Dividends and Interest Paid

The company said it paid quarterly cash dividends of $0.96 and $0.87 per common share in each of the first three quarters of 2024 and 2023, respectively. Cash paid for interest, net of amounts capitalized, was $573 million in 2024 and $340 million in 2023.

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 ↗

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