Prologis Now Sees Better Profit, Improved Occupancies for Year
By Micah Maidenberg
Prologis Inc. on Monday bumped up its financial and operational
expectations for the year.
The owner of warehouses said it now expects net earnings of
$2.80 to $2.90 a share during 2021, up from $2.36 to $2.52 a
Funds from operations on after adjustments are expected to range
from $3.96 to $4.02 a share, up 1.5% from an earlier forecast at
the midpoint. FFO is a profit metric that excludes some costs that
are important for property owners, such as depreciation.
Average occupancy at Prologis is now expected to range from
96.25% to 96.75%, up from 95.50% to 96.5%.
"Given the strength of our results and the market, we are taking
up our guidance metrics across the board," said Prologis Finance
Chief Thomas Olinger.
Write to Micah Maidenberg at firstname.lastname@example.org
(END) Dow Jones Newswires
April 19, 2021 08:57 ET (12:57 GMT)
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