Prologis, Inc. has released its third-quarter 2024 unaudited supplemental information, revealing several key financial and operational metrics.
The company's annualized net operating income (NOI) reached $6.2 billion, with a significant value creation of $751 million from stabilizations. Prologis' gross assets under management (AUM) stood at $218 billion, with a Prologis share AUM of $156 billion and market equity of $120 billion. The company's strategic capital generated $302 million in fees and promotes.
In terms of performance, Prologis reported total revenues of $2.036 billion for the third quarter of 2024, up from $1.915 billion in the same period last year. Net earnings attributable to common stockholders amounted to $1.004 billion, representing an increase from $746 million in the third quarter of 2023. Core funds from operations (FFO) attributable to common stockholders/unitholders and adjusted funds from operations (AFFO) attributable to common stockholders/unitholders were $1.367 billion and $1.014 billion, respectively, for the third quarter of 2024.
The company's lease proposals totaled millions of square feet, and its U.S. Industrial Business Indicator (IBI) activity index was reported at 107.
One notable highlight is the $40.7 billion build-out of land, a non-GAAP financial measure, which reflects a significant investment in the company's expansion.
The market has reacted to these announcements by moving the company's shares 2.0% to a price of $123.83. For the full picture, make sure to review Prologis's 8-K report.
