Prologis Raises 2019 Profit Forecast

   By Micah Maidenberg

Prologis Inc. (PLD) raised its outlook for a profit metric that investors and analysts closely watch.

The company Tuesday said it now believes it will earn $3.30 to $3.32 a share this year in core funds from operations, up from a prior forecast of $3.26 to $3.30 a share.

Core funds from operations is an earnings measurement calculated by Prologis that excludes depreciation and certain other costs and items.

On a GAAP basis, the warehouse-property owner now forecasts a profit of $2.65 to $2.69 a share in 2019, up from the prior outlook of $2.38 to $2.46 a share.

Prologis also lowered the top end of its occupancy outlook, dropping it a half percentage point to 97%.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

October 15, 2019 08:35 ET (12:35 GMT)

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