Prologis Reveals $5.9B Annual NOI

By Tamara Parker • Wednesday, July 17 15:20 • Permanent Link

Prologis, Inc. has released its second-quarter 2024 supplemental information, revealing some key performance metrics and highlights. Here are the details:

Prologis owns or has investments in approximately 1.2 billion square feet of logistics real estate in 19 countries.
The company's annual net operating income (NOI) is reported at $5.9 billion.
Development projects have generated $739 million in value creation from stabilizations.
Prologis' gross assets under management (AUM) amount to $199 billion, with the company's share of AUM at $140 billion.
Market equity stands at $107 billion, with strategic capital generating $272 million in fees and promotes.
Net earnings attributable to common stockholders amounted to $57.7 million, while core funds from operations (FFO) came in at $54 million, and adjusted funds from operations (AFFO) stood at $85.5 million.
The company reported 47 lease proposals in millions of square feet, with an average of 112 days for new lease negotiation gestation.

These figures indicate a robust performance for Prologis in the second quarter of 2024, with strong NOI, development value creation, and asset management metrics. As a result of these announcements, the company's shares have moved 1.3% on the market, and are now trading at a price of $123.1. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.