Prologis and Industrial REIT Peers Standardize Key Property Metrics for Improved Sector Comparability

Prologis, Inc. announced on April 1, 2025, that it has joined forces with EastGroup Properties, First Industrial Realty Trust, and STAG Industrial to refine and standardize the methodology for key non-GAAP property metrics across the industrial REIT sector. This initiative aims to improve transparency and consistency in reporting for metrics such as property stabilization, occupancy, rent changes, and customer retention.

The update builds on the group’s 2018 harmonization effort and reaffirms that same-store portfolios will include only properties stabilized in both the current and prior periods, while excluding value-added and redevelopment assets. Though slight differences in terms and calculations may persist, all participating REITs have committed to adopting the shared methodologies for disclosed metrics moving forward.

Prologis noted the changes have been factored into its 2025 guidance and are not expected to materially affect previously reported metrics.

This effort reinforces Prologis’s leadership in shaping standards for the logistics real estate sector and signals a broader move toward improved comparability and investor confidence across industrial REITs.

Prologis, Inc. (NYSE: PLD) will host its annual stockholders meeting on Thursday, May 8, 2025, at 1:30 p.m. PT/4:30 p.m. ET.

The meeting, which will be open to all Prologis stockholders of record as of March 12, 2025, will be conducted via a virtual live webcast. The link for the live webcast is PLD Annual Shareholder Meeting.

A replay of the meeting will be posted when available in the Investor Relations section of www.prologis.com under "Events & Presentations."

Prologis, Inc. announced amendments to its bylaws, lowering the threshold for stockholders to call a special meeting from 50% to 20% of all votes entitled to be cast. The changes were approved by the Board of Directors on February 20, 2025

Prologis has announced a 5% increase in its annualized dividend, raising it to $4.04 per share of common stock. The company’s board declared a quarterly cash dividend of $1.01 per share, payable on March 31, 2025, to stockholders of record as of March 18, 2025. Additionally, holders of the company’s 8.54% Series Q Cumulative Redeemable Preferred Stock will receive a dividend of $1.0675 per share.

Prologis, Inc. (NYSE: PLD) announced that Hamid R. Moghadam, Chief Executive Officer and Chairman of the Board, will retire as CEO effective January 1, 2026. He will continue serving as Executive Chairman of the Board.

Daniel S. Letter, currently President of Prologis, will succeed Moghadam as CEO on the same date. Letter, who has been with the company since 2004, has held leadership roles including Global Head of Capital Deployment and President of the Central Region.

In preparation for the transition, the Board increased its size from eleven to twelve directors and appointed Letter as a director, effective February 19, 2025. He will not receive additional compensation for his board service.

The company has filed a press release detailing the leadership transition.

Prologis Announces C$750 Million Bond Issuance at 4.2% Interest

Prologis, Inc. and its operating partnership, Prologis, L.P., have announced a successful bond issuance of C$750 million in 4.2% senior unsecured notes due in 2033. The offering was priced on January 28, 2025, and is expected to close on February 4, 2025.

Scotia Capital Inc. and TD Securities Inc. served as underwriters for the transaction. After underwriting discounts and offering expenses, Prologis expects net proceeds of approximately C$742.6 million. The company plans to use these funds for general corporate purposes, including repaying debt under its global credit lines.

The bonds, issued under an existing indenture agreement, carry certain restrictions on additional debt issuance, mergers, and asset sales. Investors will have the option to redeem the bonds before maturity, with different pricing mechanisms depending on the redemption date.

Prologis, Inc. is a leading global logistics real estate company, and its stock (PLD) is traded on the New York Stock Exchange.