Prologis 3Q Rents, Income Grow
October 15 2021 - 8:48AM
Dow Jones News
By Matt Grossman
Prologis Inc. posted greater revenue and funds from operations
year over year in the third quarter as occupancy improved from a
high baseline.
The San Francisco-based industrial landlord, a real-estate
investment trust, logged core funds from operations of $1.04 a
share, a rise from 90 cents a share 12 months earlier. Analysts
polled by FactSet had forecast funds from operations of $1.03 a
share.
Revenue was $1.18 billion, up from $1.08 billion a year ago.
Analysts were expecting revenue of $1.04 billion.
Average occupancy was 96.6% in the quarter, up 0.6 percentage
points from a quarter earlier. Prologis commenced leases of 49.5
million square feet of real estate in the quarter, it said.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
October 15, 2021 08:33 ET (12:33 GMT)
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