PLD Prologis

By Will Feuer

Prologis Inc. posted greater revenue and funds from operations in the fourth quarter as occupancy continued to improve.

The San Francisco-based industrial landlord, a real-estate investment trust, on Wednesday posted net income of $1.25 billion for its fourth quarter, compared with $281.9 million a year earlier. On a per-share basis, earnings were $1.67 a share, compared with 38 cents a share a year earlier. Analysts polled by FactSet were looking for earnings of 71 cents a share.

Prologis logged core funds from operations of $1.12 a share, a rise from 95 cents a share in the year-ago period. Analysts polled by FactSet had forecast funds from operations of $1.10 a share.

Rental revenue was $1.07 billion, up from $988 million a year ago. Analysts were expecting revenue of $1.07 billion.

Average occupancy was 97.4% in the quarter, up 0.8 percentage points from a quarter earlier.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

January 19, 2022 08:37 ET (13:37 GMT)

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