secwatch.observer — SEC 8-K summary
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Issuer:     Prologis, Inc. (PLD)
CIK:        0001045609
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0000950170-24-044928
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Prologis Q1 Core FFO $1.28/share, cuts 2024 guidance midpoints on occupancy and same-store NOI
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- Q1 Core FFO per diluted share $1.28 vs $1.22 YoY; net earnings $0.63 vs $0.50.
- 2024 Core FFO guidance revised to $5.37-$5.47 from $5.42-$5.56, midpoint down ~1.3%.
- Cash Same Store NOI growth guidance lowered to 6.25%-7.25% from 8%-9%; avg occupancy cut 75 bps.
- Development starts guidance reduced to $2.5B-$3.0B from $3.0B-$3.5B; net sources/uses improved.
- CEO cites high rates and geopolitical uncertainty dampening leasing; Southern California headwinds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1045609/000095017024044928/0000950170-24-044928-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1045609/000095017024044928/pld-20240417.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-044928

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer