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Prologis (PLD) Launches Two EV Truck Charging Installations
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As part of the Prologis Mobility platform, Prologis, Inc. (PLD - Free Report) announced the launch of two significant electric truck charging installations in Southern California, which has two of the United States’ busiest ports.
The projects are located in Sante Fe Springs and the City of Commerce, and provide more than 4 megawatts of total installed charging capacity.
The logistics real estate industry is expanding on robust demand from faster e-commerce adoption, growth in industries and companies striving to improve supply-chain efficiencies. This industry is anticipated to play a crucial role in shaping a carbon-free transportation future. Hence, PLD’s recent move seems prudent.
With this new launch, Performance Team, a leading national logistics company, will be able to simultaneously charge up to 38 of its Volvo VNR Electric Class 8 battery-electric trucks through these two charging sites.
Additionally, Prologis and Performance Team are jointly working to install EV charging infrastructure in several large industrial markets in the United States.
Per Hamid R. Moghadam, co-founder and CEO of Prologis, “Fleet electrification is a major priority for our customers and, as part of our Essentials platform, Prologis Mobility offers a turnkey solution that simplifies the transition to zero emissions vehicles.”
Prologis Mobility holds deep internal expertise in EV, utility engagement and industrial real estate development. This enables it to render innovative solutions with simple usage-based pricing.
Moreover, the Prologis Mobility team is exploring other options for sustainable energy, such as hydrogen fuel-cell vehicles and Compressed and Renewable natural gas (CNG/RNG).
Prologis’ recent move also resonates with the State of California’s aim to achieve a target of 100 percent zero-emissions for passenger and light-duty truck sales by 2035, medium and heavy-duty trucks by 2045 and drayage trucks by 2035. The State of New York has also set similar goals.
The company currently has a Zacks Rank #3 (Hold). In the past three months, PLD shares have gained 10.9% compared with its industry’s growth of 5.7%.
Image: Bigstock
Prologis (PLD) Launches Two EV Truck Charging Installations
As part of the Prologis Mobility platform, Prologis, Inc. (PLD - Free Report) announced the launch of two significant electric truck charging installations in Southern California, which has two of the United States’ busiest ports.
The projects are located in Sante Fe Springs and the City of Commerce, and provide more than 4 megawatts of total installed charging capacity.
The logistics real estate industry is expanding on robust demand from faster e-commerce adoption, growth in industries and companies striving to improve supply-chain efficiencies. This industry is anticipated to play a crucial role in shaping a carbon-free transportation future. Hence, PLD’s recent move seems prudent.
With this new launch, Performance Team, a leading national logistics company, will be able to simultaneously charge up to 38 of its Volvo VNR Electric Class 8 battery-electric trucks through these two charging sites.
Additionally, Prologis and Performance Team are jointly working to install EV charging infrastructure in several large industrial markets in the United States.
Per Hamid R. Moghadam, co-founder and CEO of Prologis, “Fleet electrification is a major priority for our customers and, as part of our Essentials platform, Prologis Mobility offers a turnkey solution that simplifies the transition to zero emissions vehicles.”
Prologis Mobility holds deep internal expertise in EV, utility engagement and industrial real estate development. This enables it to render innovative solutions with simple usage-based pricing.
Moreover, the Prologis Mobility team is exploring other options for sustainable energy, such as hydrogen fuel-cell vehicles and Compressed and Renewable natural gas (CNG/RNG).
Prologis’ recent move also resonates with the State of California’s aim to achieve a target of 100 percent zero-emissions for passenger and light-duty truck sales by 2035, medium and heavy-duty trucks by 2045 and drayage trucks by 2035. The State of New York has also set similar goals.
The company currently has a Zacks Rank #3 (Hold). In the past three months, PLD shares have gained 10.9% compared with its industry’s growth of 5.7%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the REIT sector are VICI Properties (VICI - Free Report) , Lamar Advertising (LAMR - Free Report) and Equity Commonwealth (EQC - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for VICI Properties’ current-year FFO per share is currently pegged at $1.91.
The Zacks Consensus Estimate for Lamar Advertising’s 2022 FFO per share presently stands at $7.34.
The Zacks Consensus Estimate for Equity Commonwealth’s ongoing year’s FFO per share is pegged at 16 cents, presently.
Note: Anything related to earnings presented in this write-up represent FFO — a widely used metric to gauge the performance of REITs.