Case Study: Investors

[4.16, 4.17] Our investor audience regularly analyzes ProLogis’ financial and operating results, generally resulting in recommendations for buying and selling shares of ProLogis common stock.

2009 was a year of transition for ProLogis. As we worked to pay down debt, right-size the company for the current environment and establish a firmer financial footing, it was critically important that we communicated our efforts to our investment community both consistently and effectively.

We increased the number of face-to-face meetings between investors and our executive team and enhanced our disclosure to address some of the investment community’s common questions and concerns. This helped to encourage dialogue and increase transparency. We also published an electronic mid-year shareholder report, which updated progress toward our de-leveraging and de-risking goals.

To assist in the review of messaging, we engaged an external investor relations advisory firm experienced in crisis situations. And, we analyzed investor feedback to determine most frequently asked questions, incorporating messaging to address those questions in our quarterly results conference calls and investor presentations.

Our efforts resulted in increased visibility for our progress and helped to establish better feedback mechanisms. We were listed by Institutional Investor magazine as the number two ranked IR team and the number one ranked IR professional in the REIT sector, as voted by sell-side research analysts. We also were nominated as having one of the best crisis communication programs in 2009 by Investor Relations magazine. External recognition of our efforts validates that we were successful in maintaining our strong relationships with this key stakeholder group despite very challenging capital market conditions.