Despite a 30% drop in Prologis’ (PLD) share price over the past year, demand for its logistics properties remains robust, as indicated by its strong first-quarter results. Prologis’ occupancy and retention rates remained high, leading to an all-time high for its cash same-store net operating income and an extraordinary rise in rental rates. The company’s CEO also expressed confidence in future growth, as occupancy levels should stay high and rents are likely to keep rising in the coming quarters. Prologis’ strong balance sheet, low debt maturity, and ample liquidity also provide a solid foundation for the company to capitalize on future opportunities. Given the favorable conditions and the recent sell-off, Prologis’ stock looks like a “screaming buy,” particularly for investors seeking an above-average and growing dividend.
US district judge refers FTX independent examiner issue to appellate court
A motion for the appointment of an independent examiner in the bankruptcy case of crypto exchange FTX has been referred...
