Prologis (PLD) Reports Q3 Core FFO of $0.67; Narrows Outlook

Prologis (NYSE: PLD) reported Q3 core FFO of $0.67, versus $0.73 reported last year. Net earnings per diluted share was $1.63 compared with $0.52 for the same period in 2016.

"Our third quarter results reflect strong market conditions and our customers' intensifying need for well-located logistics facilities," said Hamid R. Moghadam, chairman and CEO, Prologis. "Taken together, the lack of available labor and land scarcity are becoming additional governors on new construction. These favorable conditions have elevated our mark-to-market. Our in-place rents are now below market by 14 percent globally and 18 percent in the U.S., extending our organic growth into the foreseeable future."

The guidance range for net earnings per diluted share increased and narrowed to $3.01 to $3.06 and the range for Core FFO per diluted share narrowed to $2.79 to $2.81.

For earnings history and earnings-related data on Prologis (PLD) click here.

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