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Prologis $PLD fundamental analysis implies stock's overvalued b4 earnings Tuesday:
Fair Value Analysis
Im surprised no one's posting in PLD. This stock has been doing well for me since 2009 still when it was AMB and PLD seperately. Anyone else invested in this one?
ProLogis to Host First Quarter 2010 Financial Results Webcast and Conference Call
Date : 03/22/2010 @ 5:15PM
Source : PR Newswire
Stock : Prologis (PLD)
http://ih.advfn.com/p.php?pid=nmona&article=42074824&symbol=PLD
ProLogis to Host First Quarter 2010 Financial Results Webcast and Conference Call
PR Newswire
DENVER, March 22
DENVER, March 22 /PRNewswire-FirstCall/ --
ProLogis (NYSE: PLD), a leading global provider of distribution facilities, will host its First Quarter 2010 Financial Results Webcast and Conference Call with senior management to discuss quarterly results, current market conditions and future outlook on Thursday, April 22, 2010, at 10:00 a.m. Eastern Time.
Earnings Release
ProLogis' first quarter 2010 financial results will be released on Thursday, April 22, 2010, before market open and will be available on the ProLogis website, http://ir.prologis.com, in the "Annual & Supplemental Reports" section.
Earnings Webcast and Conference Call
Interested parties are encouraged to access the live webcast by clicking the microphone icon located near the top of the opening page on the ProLogis website at http://ir.prologis.com. Interested parties can also participate via conference call by dialing (866) 305-2304 domestically or (660) 422-4873 internationally.
Replay Information
A replay of the conference call will be available after 1:00 p.m. Eastern Time on Thursday, April 22, 2010. The replay will be available until midnight Eastern Time on Thursday, May 6, 2010, and can be accessed by dialing (800) 642-1687 domestically or (706) 645-9291 internationally and entering the passcode 64192810. A transcript of the call and the webcast replay will be available in the "Quarterly Results" section on the ProLogis website.
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com.
Follow ProLogis on Twitter: http://twitter.com/ProLogis
SOURCE ProLogis
ProLogis Intends to Increase Ownership Stake in ProLogis European Properties
Date : 02/16/2010 @ 2:05AM
Source : PR Newswire
Stock : (PLD)
http://ih.advfn.com/p.php?pid=nmona&article=41544652&symbol=PLD
DENVER, Feb. 16 /PRNewswire-FirstCall/ --
ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that it intends to purchase additional Ordinary Units carrying voting rights of ProLogis European Properties, a Luxembourg closed-ended investment fund (Euronext: PEPR), in the open market or in privately negotiated transactions. ProLogis currently holds approximately 24.8 percent of PEPR's outstanding Ordinary Units.
"In our view, PEPR's Unit price does not fully reflect the significant progress made over the past 14 months to manage through the downturn," said Walter C. Rakowich, ProLogis chief executive officer. "During this time, we have worked diligently to strengthen PEPR's financial condition, maintain PEPR's strong occupancy and optimize the earnings power of its high quality assets. We will continue to manage PEPR in a way that maximizes value, and we intend to increase our ownership, as we believe PEPR Units represent an attractive investment opportunity for ProLogis."
At this time, ProLogis does not intend to increase its equity ownership of PEPR beyond 33.33 percent of Ordinary Units carrying voting rights, a level which would trigger a mandatory tender offer for the remaining PEPR Units under Luxembourg law.
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
About PEPR
PEPR is one of the largest pan-European owners of high quality distribution and logistics facilities. It was listed on Euronext Amsterdam in September 2006 and is externally managed by ProLogis Management S.a r.l, a wholly owned subsidiary of ProLogis.
DATASOURCE: ProLogis
CONTACT: Investors, Melissa Marsden of ProLogis, +1-303-567-5690,
mobile, +1-720-339-7425, ; or Financial Media, Suzanne
Dawson of Linden Alschuler & Kaplan, Inc, +1-212-329-1420, ,
for ProLogis
Web Site: http://www.prologis.com/
ProLogis Reports Fourth Quarter/Year-end 2009 Results
Date : 02/11/2010 @ 8:00AM
Source : PR Newswire
Stock : Prologis (PLD)
http://ih.advfn.com/p.php?pid=nmona&cb=1265905363&article=41493173&symbol=NY^PLD
ProLogis Reports Fourth Quarter/Year-end 2009 Results
- Full-year FFO per Share in Line with Previous Guidance - - Property Market Fundamentals Showing Signs of Improvement - - Company Establishes 2010 Guidance -
DENVER, Feb. 11 /PRNewswire-FirstCall/ --
ProLogis (NYSE:PLD), a leading global provider of distribution facilities, today reported funds from operations as defined by ProLogis (FFO), excluding significant non-cash items, of $1.15 per diluted share in 2009, compared with $3.51 for 2008. (See Summary of Results table for details). These amounts reflect the add back of impairments on real estate properties, goodwill and other assets totaling $0.81 per diluted share in 2009 and $3.01 in 2008. ProLogis reported a net loss per diluted share of $0.01 for 2009, compared with a net loss of $1.82 for 2008.
For the fourth quarter, FFO, excluding significant non-cash items, was $0.13 per diluted share in 2009, compared with $0.56 in 2008. These amounts reflect the add back of impairments on real estate properties, goodwill and other assets totaling $0.78 per diluted share in the fourth quarter of 2009 and $3.04 in 2008. For the fourth quarter of 2009, the company reported a net loss per diluted share of $0.86, compared with a net loss of $3.39 in the same period of 2008.
Reconciliation to Previous Guidance
In addition to the non-cash impairment charges referred to above, the company experienced various non-recurring charges in the fourth quarter and earlier in 2009, as detailed below. FFO, excluding significant non-cash items and non-recurring charges, was $1.41 per diluted share for the full year, in line with the company's previous guidance of $1.39 to $1.43. For the fourth quarter, FFO, excluding significant non-cash items and non-recurring charges, was $0.23 per diluted share.
Three Months Twelve Months Ended Ended December 31, December 31, 2009 2009 ---- ----
FFO, excluding significant non-cash items $0.13 $1.15 Add (deduct) non-recurring charges: Indemnifications related to contributed or sold properties 0.08 0.09 Realized losses on foreign currency transactions - 0.05 Capital markets costs 0.03 0.04 ProLogis' share of losses on sale of fund assets - 0.03 Reduction in workforce - 0.03 Other 0.01 0.04 Adjustments to tax and compensation-related liabilities (0.02) (0.02) ---- ---- Add summarized non-recurring charges 0.10 0.26 ---- ---- FFO, excluding significant non-cash items and non-recurring charges $0.23 $1.41
Significant Accomplishments in 2009 Position Company for Future Opportunities
"We began 2009 with an action plan and aggressive goals related to asset dispositions, debt reduction and development portfolio leasing," said Walter C. Rakowich, chief executive officer. "Throughout the year, we made tough choices and remained highly focused on stabilizing the company. We are pleased to have accomplished our goals, putting the company on firm financial footing and positioning us to take advantage of opportunities as market conditions improve."
Among ProLogis' specific goals for 2009 were to: reduce debt by $2 billion, complete $1.5 to $1.7 billion of asset dispositions and contributions to property funds (exclusive of the sale of certain Asian operations) and achieve static development portfolio leasing of 60 to 70 percent. At year end 2009, the company had reduced debt by $2.7 billion, completed $1.53 billion of property dispositions and contributions and achieved static development portfolio leasing of 68.2 percent.
Continued Signs of Stabilization and Improvement in Property Markets
"While focusing on our action plan, we also worked diligently to maintain stable occupancies in our core portfolio," Rakowich added. "The bottoming of market occupancies and rents that we began to see in mid-2009 held up in the fourth quarter, with some markets showing improvement. For the top 31 North American markets we track, overall net demand turned positive in the fourth quarter, and we saw similar pockets of positive take-up in Europe. And, although we expect net effective rental rates on turnovers to be negative throughout 2010, we believe improving occupancies and the continued lack of new supply will pave the way for improving rental rates in 2011."
ProLogis' non-development portfolio was 92.4 percent leased at the end of the fourth quarter, down slightly compared with 92.7 percent leased at September 30. Same-store net operating income (SS NOI), as adjusted (excluding same-store assets associated with the company's development portfolio), decreased 4.2 percent, a slight improvement over the third quarter SS NOI decline. Net effective rental rates on turnover of 23.6 million square feet, or 6.0 percent of the adjusted same-store pool, were down 11.7 percent for the quarter, representing an improvement over the third quarter decline.
Build-to-Suit Development Demand Supports Reductions in Land Position
"While new speculative development has remained virtually non-existent, during the fourth quarter we continued to see demand for build-to-suit development from customers whose supply chain optimization requirements could not be met with the available supply of space," said Ted R. Antenucci, chief investment officer. ProLogis' fourth quarter starts consisted of a 667,000-square-foot facility for a major home improvement retailer in Southern California and a 504,000-square-foot facility for a leading UK retailer in Scotland. Including joint venture partner capital contributions, total expected investment for all build-to-suit developments started in the second half of 2009 is $336 million.
"Given the continued interest from customers in build-to-suits, we expect to start $700 to $800 million of new development in 2010, primarily in Europe and Asia. We also will continue to pursue land sales, which when combined with new development, will allow us to begin to monetize roughly $350 to $400 million of land in 2010," Antenucci added.
Strategic Repositioning of Asset Base
"In 2009, we used the proceeds from nearly $2.9 billion of contributions and dispositions, including the sale of certain Asian operations, to reduce debt and fund our development portfolio," said Rakowich. "Having stabilized our balance sheet, we are now looking to fund new development activity in a slightly different, leverage-neutral manner. Due to improving property values and growing institutional demand for quality properties, in 2010 we plan to generate $1.3 to $1.5 billion of proceeds from sales of existing assets and contributions to funds, primarily in the United States, and use the proceeds to fund the remaining costs associated with our existing development portfolio as well as 2010 development starts. This approach will allow us to retain more of our non-US development on our balance sheet, thereby improving the geographic diversification of our direct owned assets."
Continued Financing Progress for ProLogis and Property Funds
"We continued to focus on further extending and smoothing the debt maturities both on ProLogis' balance sheet and in our property funds," said William E. Sullivan, chief financial officer. "In the fourth quarter, we issued $600 million of 10-year, ProLogis senior notes and closed on a $108 million secured financing in Japan on our balance sheet. Since the beginning of the fourth quarter, we closed on euro 886 million of financings in our European funds, effectively reducing 2010 maturities within those funds to approximately euro 327 million. This is significant progress from the over euro 1.8 billion of 2010 fund debt maturities we were faced with at the beginning of 2009."
Guidance for 2010
ProLogis established full-year 2010 FFO guidance, excluding significant non-cash items, of $0.74 to $0.78 per share, of which approximately $0.10 relates to expected gains on dispositions of development and land. Net earnings are expected to be between $0.25 and $0.29 per diluted share. A summary of the business drivers supporting ProLogis' 2010 guidance is available at http://ir.prologis.com/2010BusinessDrivers.cfm.
Copies of ProLogis' fourth quarter 2009 supplemental information will be available from the company's website at http://ir.prologis.com/ in the "Annual & Supplemental Reports" section before open of market on Thursday, February 11, 2010. The company will host a webcast/conference call on Thursday, February 11, 2010, at 10:00 a.m. Eastern Time. The live webcast and the replay will be available on the company's website at http://ir.prologis.com/. Additionally, a podcast of the company's conference call will be available on the company's website.
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
Follow ProLogis on Twitter: http://twitter.com/ProLogis
The statements above that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which ProLogis operates, management's beliefs and assumptions made by management, they involve uncertainties that could significantly impact ProLogis' financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future - including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of developed properties, general conditions in the geographic areas where we operate and the availability of capital in existing or new property funds - are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, (v) maintenance of real estate investment trust ("REIT") status, (vi) availability of financing and capital, (vii) changes in demand for developed properties, and (viii) those additional factors discussed in reports filed with the Securities and Exchange Commission by ProLogis under the heading "Risk Factors." ProLogis undertakes no duty to update any forward-looking statements appearing in this press release.
...
ProLogis Declares Dividends on Common Shares
Date : 02/01/2010 @ 5:15PM
Source : PR Newswire
Stock : (PLD)
http://ih.advfn.com/p.php?pid=nmona&article=41348621&symbol=PLD
DENVER, Feb. 1 /PRNewswire-FirstCall/ --
ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that its Board set the annualized dividend level for 2010 at $0.60 per common share, or $0.15 per quarter. In addition, the Board declared ProLogis' first quarter dividend of $0.15 per common share, payable on February 26, 2010, to shareholders of record on February 12, 2010
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
DATASOURCE: ProLogis
CONTACT: Robbin Lee of ProLogis, +1-303-567-5690,
Web Site: http://www.prologis.com/
06:58AM - ProLogis upgraded by UBS
http://finance.yahoo.com/q/ud?s=PLD
http://www.marketwatch.com/story/ubs-upgrades-some-reits-after-sell-off-2010-02-01?siteid=yhoof2
ProLogis Closes on Euro 622 Million of Financings for European Property Funds
Date : 01/22/2010 @ 3:00AM
Source : PR Newswire
Stock : Prologis (PLD)
http://ih.advfn.com/p.php?pid=nmona&article=41213801&symbol=PLD
DENVER, Jan. 22 /PRNewswire-FirstCall/ --
ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that over the past four weeks it has completed four financings for its European property funds, totaling euro 622 million. The four financings have a weighted average coupon of 4.91 percent
Three, four-year financings, resulting in euro 441 million of funding, were completed for ProLogis European Properties (Euronext: PEPR). They have loan-to-value ratios of between 50 and 55 percent and are secured by assets located in Germany, Belgium, France, Italy, Spain, Poland and the United Kingdom. The largest component of these financings is a euro 300 million Pan-European, syndicated loan with six European lenders, arranged by Goldman Sachs, which was one of the largest loans of this kind done in the European real estate sector since 2008
ProLogis also completed a euro 181 million financing for ProLogis European Properties Fund II, the largest single-lender mortgage financing completed in Europe since the fall of 2008. This financing is secured by 22 assets in France and has a loan-to-value ratio of 60 percent
"With these financings, we have reduced 2010 maturities within the two funds to under euro 336 million - significant progress from the euro 1.8 billion we were faced with as of December 31, 2008. With the capital transactions in progress and available liquidity within the funds, we are comfortable with our ability to address the remaining maturities in the near future," said William E. Sullivan, ProLogis' chief financial officer. "The European financing market continues to demonstrate its diversity and resilience, as we are able to complete transactions with a wide spectrum of lenders at attractive rates."
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
DATASOURCE: ProLogis
CONTACT: Investors, Melissa Marsden, +1-303-567-5622,
, or Media, Krista Shepard, +1-303-567-5907,
, both of ProLogis; or Financial Media, Suzanne Dawson of
Linden Alschuler & Kaplan, Inc., +1-212-329-1427, , for
ProLogis
Web Site: http://www.prologis.com/
Stocks fall as Obama calls for tougher bank rules
Stocks slide anew as Obama calls for tighter restrictions on some trading by banks
Stephen Bernard and Tim Paradis, AP Business Writers,
On Thursday January 21, 2010, 12:08 pm EST
http://finance.yahoo.com/news/Stocks-fall-as-Obama-calls-apf-1512287612.html;_ylt=ArFaJECrqfyx6R5QIp67fdG7YWsA_ylu=X3oDMTE1NG43dGc2BHBvcwMzBHNlYwN0b3BTdG9yaWVzBHNsawNzdG9ja3NzZWV3b3I-?x=0&sec=topStories&pos=1&asset=&ccode=
NEW YORK (AP) -- Financial shares pulled the stock market lower Thursday as President Barack Obama proposed rules that would limit the types of trading banks can do with their money.
The Dow Jones industrial average tumbled 200 points after dropping 122 points on Wednesday. The index has seen four straight triple-digit swings. Bond prices rose as the stock market became more volatile.
Tightening the rules on how big banks trade their money could hurt profits at those companies.
Broader concerns also dogged investors. Patrick Galley, chief investment officer at RiverNorth Capital in Chicago, said stocks have risen so fast in the past 10 months that expectations about an economic recovery are getting too high.
"The market can be quite fickle just because of the huge run-up that we've had," he said. "A lot of folks have their trigger finger on the sell button if they start to sense that news won't meet expectations."
The market was mixed earlier as good earnings news was tempered by an unexpected jump in initial jobless claims. But banks, which have driven the market over the past year and a half, were the focus by late morning.
The Labor Department said workers filing for unemployment benefits for the first time rose by 36,000 to 482,000 last week. Economists polled by Thomson Reuters were expecting a small drop. The four-week average rose for the first time since August.
The report provided a grim reminder that while the economy might have improved modestly, a robust recovery is unlikely until companies start adding jobs. The unemployment rate remained at 10 percent last month.
Traders said weakness in manufacturing also brought concern that the economy might not be recovering as quickly as hoped. The Philadelphia Federal Reserve said manufacturing in its region fell in January from December. Its index of regional manufacturing conditions fell to 15.2 from a revised 22.5 last month.
In midday trading, the Dow fell 204.58, or 1.9 percent, to 10,398.57. The broader Standard & Poor's 500 index fell 19.31, or 1.7 percent, to 1,118.73. The Nasdaq composite index fell 27.50, or 1.2 percent, to 2,263.75.
Stocks had tumbled on Wednesday after China said it would curb bank lending to slow down its economy. The latest sign of China's supercharged growth came out on Thursday as the country reported 10.7 percent economic expansion in the fourth quarter and 8.7 percent for all of last year. The rapid growth reinforced concerns that China will take more steps to tighten monetary policy and rein in its economy, which could dampen a global economic rebound.
Bond prices jumped as the stock market fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.62 percent from 3.65 percent late Wednesday.
The dollar rose against other major currencies, while gold fell. A rise in the dollar hurt commodity prices, which become more expensive for foreign buyers when the dollar strengthens.
Crude oil fell 90 cents to $76.84 per barrel on the New York Mercantile Exchange.
The Russell 2000 index of smaller companies fell 10.93, or 1.7 percent, to 628.68.
Four stocks fell for every one that rose on the New York Stock Exchange, where volume came to 586.8 million shares compared with 473.6 million shares traded at the same point Wednesday.
Britain's FTSE 100 fell 1.5 percent, Germany's DAX index lost 1.8 percent, and France's CAC-40 fell 1.7 percent. Earlier, Japan's Nikkei stock average rose 1.2 percent.
Anyone heard anything for the reason for the 5% drop today?
ProLogis to Participate in the Deutsche Bank 2010 Real Estate Outlook Conference
Date : 01/12/2010 @ 5:15PM
Source : PR Newswire
Stock : Prologis (PLD)
http://ih.advfn.com/p.php?pid=nmona&article=41078381&symbol=PLD
ProLogis to Participate in the Deutsche Bank 2010 Real Estate Outlook Conference
DENVER, Jan. 12 /PRNewswire-FirstCall/ --
ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that it will participate in the Deutsche Bank 2010 Real Estate Outlook Conference being held at The Pierre Hotel in New York City on January 13, 2010. Bill Sullivan, chief financial officer for ProLogis, will participate in an industrial panel at 3:00pm Eastern Time
You may listen to the webcast of the panel by going to ProLogis' website at http://ir.prologis.com/ and clicking on the link provided under "Presentations & Webcasts." At this location, you will also find the company's presentation being used in meetings with investors starting at 8:00am Eastern Time on January 13, 2010. The presentation covers topics such as property fund financing activity, land monetization and future earnings upside
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
DATASOURCE: ProLogis
CONTACT: Robbin Lee of ProLogis, +1-303-567-5690,
Web Site: http://www.prologis.com/
ProLogis Announces 4.0 Million Square Feet of Fourth Quarter Global Development Portfolio Leasing Activity
Date : 01/12/2010 @ 7:00AM
Source : PR Newswire
Stock : Prologis (PLD)
Quote : 13.73 -0.36 (-2.56%) @ 1:47PM
http://ih.advfn.com/p.php?pid=nmona&article=41067513&symbol=PLD
ProLogis Announces 4.0 Million Square Feet of Fourth Quarter Global Development Portfolio Leasing Activity
- Global Static Development Portfolio Now 68.2 Percent Leased -
DENVER, Jan. 12 /PRNewswire-FirstCall/ --
ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that its static global development portfolio was 68.2 percent leased as of year-end 2009
"Roughly one year ago, we set a goal to achieve a leased percentage of 60 - 70 percent by year-end 2009 for our development portfolio properties in place as of the end of 2008, or what we have called our static portfolio," said Walt Rakowich, chief executive officer. "We are pleased to have reached the upper end of that goal and are encouraged by continued leasing activity and customer demand. At a time when little development is coming online, ProLogis' best-in-class development inventory provides immediate solutions for our customers' distribution space needs."
ProLogis signed 56 leases in its static development portfolio during the fourth quarter, which increased leased space in this portfolio by approximately 4.0 million square feet (372,000 square meters) in locations worldwide
Recent development portfolio leasing transactions included:
-- Asia: A new, 381,000-square-foot (35,400-square-meter) lease agreement in Japan with Hitachi Transport System, Ltd., a leading third-party logistics provider. Hitachi Transport System will operate the space on behalf of its customer at ProLogis' newly developed facility in the Tokyo market. New development leases in Asia during the fourth quarter totaled 1,130,000 square feet (105,000 square meters)
-- Europe: A new, 237,000-square-foot (22,000-square-meter) lease agreement in the United Kingdom with Biffa, a leading integrated waste management business. Biffa will occupy the space in Building Three at ProLogis Park Midpoint, located in the West Midlands, and will use it as a materials recycling facility for non-hazardous recyclable materials. New development leases in Europe during the fourth quarter totaled 1,937,000 square feet (180,000 square meters)
-- North America: A new, 255,000-square-foot (23,700-square-meter) lease agreement signed in Atlanta with Viega LLC, a manufacturer of plumbing, heating, gas and potable water products. Occupying space at ProLogis Park Greenwood, the customer will use the space as a new distribution hub to serve its customers in the southeastern United States. New development leases in North America during the fourth quarter totaled 877,300 square feet (81,500 square meters)
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
DATASOURCE: ProLogis
CONTACT: media, Mo Sheahan, +1-303-567-5434, , or
investors, Melissa Marsden, +1-303-567-5622, , both of
ProLogis; or Suzanne Dawson of Linden Alschuler & Kaplan, Inc.,
+1-212-329-1420, , for ProLogis
Web Site: http://www.prologis.com/
I'm new to PLD... but like the looks of it!
ProLogis to Host Fourth Quarter/Year End 2009 Financial Results Webcast and Conference Call
Date : 01/06/2010 @ 5:15PM
Source : PR Newswire
Stock : Prologis (PLD)
http://ih.advfn.com/p.php?pid=nmona&article=40998129&symbol=PLD
DENVER, Jan. 6 /PRNewswire-FirstCall/ -- ProLogis (NYSE:PLD), a leading global provider of distribution facilities, will host its Fourth Quarter/Year End 2009 Financial Results Webcast and Conference Call with senior management to discuss quarterly results, current market conditions and future outlook on Thursday, February 11, 2010, at 10:00 a.m. Eastern Time
Earnings Release
ProLogis' fourth quarter/year end 2009 financial results will be released on Thursday, February 11, 2010, before market open and will be available on the ProLogis website, ir.prologis.com/, in the "Annual & Supplemental Reports" section
Earnings Webcast and Conference Call
Interested parties are encouraged to access the live webcast by clicking the microphone icon located near the top of the opening page on the ProLogis website at ir.prologis.com/. Interested parties can also participate via conference call by dialing (866) 305-2304 domestically or (660) 422-4873 internationally
Replay Information
A replay of the conference call will be available after 1:00 p.m. Eastern Time on Thursday, February 11, 2010. The replay will be available until midnight Eastern Time on Thursday, February 25, 2010, and can be accessed by dialing (800) 642-1687 domestically or (706) 645-9291 internationally and entering the passcode 49471953. A transcript of the call and the webcast replay will be available in the "Quarterly Results" section on the ProLogis website
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
DATASOURCE: ProLogis
CONTACT: Robbin Lee of ProLogis, +1-303-567-5690,
Web Site: http://www.prologis.com/
ProLogis Closes Japanese Financing
By: Zacks Equity Research
December 23, 2009
http://www.zacks.com/stock/news/28621/ProLogis+Closes+Japanese+Financing
ProLogis (PLD - Snapshot Report), one of the leading global providers of distribution facilities, recently completed a $113 million (10 billion yen) financing to repay its debt. The financing was obtained through a "tokutei mokuteki kaisha" (TMK), a tax-favored, special-purpose vehicle created in Japan for acquiring and holding Japanese assets. Secured by real estate assets, the TMK issues corporate bonds, which can be bought by Japanese and non-Japanese investors.
The financing has a maturity period of three years and is collateralized by ProLogis Parc Osaka II, a multi-tenant facility that is over 95% leased and located in Osaka, Japan. Proceeds from the financing were used to pay down the global lines of credit.
ProLogis owns and manages interests in over 2,500 distribution facilities spanning 475 million square feet (including properties under development) of space. In response to the economic realities of constrained credit and rapidly deteriorating industrial real estate fundamentals, ProLogis has stopped all new development starts and early-stage developments. The company is currently concentrating on increasing its liquidity and de-leveraging its balance sheet.
With the financing agreement, ProLogis has displayed the unique strength of its large and diversified unencumbered asset base. Shares are now attractively valued relative to peer group averages and underlying NAV. We think the company has done an adequate job of addressing debt maturities and will be able to tide over the credit crunch.
ProLogis Closes 10 Billion Yen ($113 Million) TMK Bond Financing
http://ir.prologis.com/releaseDetail.cfm?ReleaseID=430925
DENVER, Dec 16, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today that it has completed a 10 billion yen ($113 million) TMK bond secured financing. Sumitomo Mitsui Banking Corp. was lead on the financing, which has a three-year maturity and is secured by ProLogis Parc Osaka II. Proceeds from this financing were used to pay down ProLogis' global line of credit. Tokutei Mokuteki Kaisha (TMK) is a tax favored, special purpose securitization vehicle that issues corporate bonds secured by real estate assets.
"The TMK bond market in Japan continues to be a very attractive capital source. We are fortunate to have strong relationships with some of the premier lenders in the region and to have a product type that continues to be attractive as a source of security," said Phillip D. Joseph, Jr., senior vice president and treasurer. ProLogis Parc Osaka II is a 1.4 million-square-foot, multi-tenant facility located in Osaka, Japan, that is over 95 percent leased to well-known companies like Nipro Corporation, Kintetsu World Express and Sankyu Inc.
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to www.prologis.com.
SOURCE ProLogis
http://www.prologis.com
Copyright (C) 2009 PR Newswire. All rights reserved
ProLogis to Participate in the Goldman Sachs Commercial Real Estate Symposium 2009
Date : 12/03/2009 @ 5:15PM
Source : PR Newswire
Stock : Prologis (PLD)
http://ih.advfn.com/p.php?pid=nmona&cb=1260023932&article=40633435&symbol=NY^PLD
DENVER, Dec. 3 /PRNewswire-FirstCall/ -- ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that it is participating in Goldman Sachs Commercial Real Estate Symposium 2009 being held at the Goldman Sachs Conference Center on December 4, 2009. Walter C. Rakowich, chief executive officer for ProLogis, will participate in an industrial panel at 10:30 am Eastern Time.
You may listen to a webcast of the industrial panel and view the presentation being used in the investor meetings by going to ProLogis' website at http://ir.prologis.com/ and clicking on the link provided under "Presentations & Webcasts." The presentation includes updated details on development and the company's land bank and will be available at 8:00 am Eastern Time on December 4, 2009.
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
DATASOURCE: ProLogis
CONTACT: Robbin Lee of ProLogis, +1-303-567-5690,
Web Site: http://www.prologis.com/
ProLogis Leases 378,000 Square Feet in Europe
Date : 11/30/2009 @ 7:00AM
Source : PR Newswire
Stock : Prologis (PLD)
http://ih.advfn.com/p.php?pid=nmona&article=40564892&symbol=PLD
- Company Announces Development Portfolio Leases With Five New Customers -
AMSTERDAM, Nov. 30 /PRNewswire-FirstCall/ -- ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today it has signed new fourth-quarter lease agreements in Europe totaling approximately 378,000 square feet (35,100 square meters) in its development portfolio.
"We are very pleased to announce continued leasing activity in our European portfolio," said Philip Dunne, ProLogis president in Europe. "We are seeing signs of stabilization in the market, and with well-located, high-quality and modern distribution space throughout Europe, ProLogis is positioned well to both capture new business and continue to serve the ongoing needs of our customers."
Recent activity included:
-- 104,000 square feet (9,700 square meters) leased to a leading German retailer with operations in 25 countries worldwide. The new ProLogis customer will occupy the space at ProLogis Park Neuenstadt Building One, located in southwestern Germany in the trade and industrial park of Unteres Kochertal (GIK), in the city of Neuenstadt.
-- 81,000 square feet (7,500 square meters) leased to Plenty Market, a retailer of general consumer products. The new ProLogis customer will occupy the space at ProLogis Park Bologna, located 10 miles (15 km) southeast of Bologna, Italy.
-- 68,000 square feet (6,300 square meters) leased to a third-party logistics provider. The new ProLogis customer will occupy the space at ProLogis Park Clesud Building Seven, located in southern France. With this transaction, the facility - totaling 624,000 square feet (58,000 square meters) - becomes fully occupied following its recent completion in July 2009.
-- 67,000 square feet (6,200 square meters) leased to Honold International, a third-party logistics provider that serves customers in 22 locations throughout Germany, Romania, Russia, Slovakia and China. The new ProLogis customer will occupy the space at ProLogis Park Augsburg Building Two, located in southern Germany near the city of Munich.
-- 58,000 square feet (5,400 square meters) leased to Euro Freight Logistics, a third-party logistics provider. The new ProLogis customer will occupy the space at ProLogis Park Sochaczew Building Five, located near Warsaw, Poland.
ProLogis is Europe's leading provider of industrial and distribution space with a 124.9-million-square-foot (11.6-million-square-meter) portfolio owned, managed or under development in 13 countries.
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
DATASOURCE: ProLogis
CONTACT: Media, Mo Sheahan, +1-303-567-5434, , or
Investors, Melissa Marsden, +1 303-567-5622, , both of
ProLogis; or Suzanne Dawson of Linden Alschuler & Kaplan, Inc.,
+1-212-329-1420, , for ProLogis
Web Site: http://www.prologis.com/
ProLogis Participates in NAREIT Annual Convention
Date : 11/10/2009 @ 5:05PM
Source : PR Newswire
http://ih.advfn.com/p.php?pid=nmona&cb=1257962057&article=40301115&symbol=NY^PLD
DENVER, Nov. 10 /PRNewswire-FirstCall/ -- ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that it is participating in the NAREIT Annual Convention: REIT World 2009 being held at the JW Marriott Desert Ridge, Phoenix, Arizona, November 11 through 13, 2009. Walter Rakowich, chief executive officer for ProLogis, will participate in the CEO Marketplace Panel at 12:00pm MT / 2:00pm ET on Wednesday, November 11, 2009.
You may listen to the webcast of the CEO Marketplace Panel by going to ProLogis' website at http://ir.prologis.com/ by clicking on the link provided under "Presentations & Webcasts." At this location, you will also find the company presentation being used in meetings with investors starting at 8:00am MT / 10:00am ET on November 11, 2009. The presentation covers debt, activities within ProLogis' funds as well as future earnings upside.
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
DATASOURCE: ProLogis
CONTACT: Robbin Lee of ProLogis, +1-303-567-5690
Web Site: http://www.prologis.com/
Quarterly Report (10-Q)
Date : 11/04/2009 @ 4:52PM
http://ih.advfn.com/p.php?pid=nmona&cb=1257580348&article=40214969&symbol=NY^PLD
ProLogis Closes ProLogis European Properties Fund II Financing
Date : 11/04/2009 @ 9:00AM
Source : PR Newswire
http://ih.advfn.com/p.php?pid=nmona&cb=1257580348&article=40205182&symbol=NY^PLD
- Proceeds Used to Pay Down Warehouse Line -
DENVER, Nov. 4 /PRNewswire-FirstCall/ -- ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today it has completed a euro 41.4 million financing on behalf of ProLogis European Properties Fund II (PEPF II). Proceeds from the financing were used to pay down PEPF II's warehouse line of credit.
A European bank based in Austria provided the five-year loan that is secured by a portfolio of six assets in Poland, representing a 52 percent loan-to-value.
"With this financing, we have demonstrated our access to debt capital in the central European region with one of the few new secured real estate loans to be completed there during 2009. We also established a new lending relationship and are pleased that lenders continue to be attracted to the strong and stable cash flows generated by ProLogis' assets," said William E. Sullivan, ProLogis' chief financial officer.
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
DATASOURCE: ProLogis
CONTACT: Investors, Melissa Marsden, +1-303-567-5622,
, or Media, Krista Shepard, +1-303-567-5907,
, both of ProLogis; or Financial Media, Suzannne Dawson
of Linden Alschuler & Kaplan, Inc., +1-212-329-1427, , for
ProLogis
Web Site: http://www.prologis.com/