Attractive Relative Valuation of Prologis
INVESTOR RELATIONS
PROLOGIS
A business that delivers superior long-term financial results
CORE FFO✶ PER SHARE CAGR
20%
10%
0%
3-YEAR
DIVIDEND PER SHARE CAGR
20%
10%
0%
90
5-YEAR
3-YEAR
5-YEAR
PLD ex. Promote
Blue Chips REITs¹
■REIT Average²
■S&P 500 Average
* This is a non-GAAP financial measure. Please see Notes and Definitions included in this presentation and in our Q1 2023 Supplemental for further explanation.
Source: FactSet. Core FFO/EPS and dividends as of December 31, 2022.
1. Includes AVB, BXP, EQIX, FRT, HST, PSA, and SPG. Weighted on market cap as of December 31, 2022.
2. Includes REITs in the VNQ as of March 31, 2023, with data for every year in each respective period; weighted on market cap as of December 31, 2022.
Leading Core
FFO* CAGR
for three and five-year time
periods
Leading
dividend CAGR
for three and five-year time
periods
$4B+ of net cash
provided by
operating activities
in 2022
$1B+ of Free
Cash Flow*
after dividends in 2022
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