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Prologis reports 13.7% YOY rise in Q1 FFO, revises guidance from SNL Real Estate Daily Prologis reports 13.7% YOY rise in Q1 FFO, revises guidanceByline: S&P Global Market Intelligence Prologis Inc. reported first-quarter core FFO attributable to common stockholders/unit holders of $599.2 million, or 83 cents per share, a rise of 13.7% on a per-share basis from $474.3 million, or 73 cents per share, in the 2019 first quarter. Adjusted FFO attributable to common stockholders/unit holders for the first quarter grew 57% in the aggregate on an annual basis to $733.1 million from $466.8 million. Total revenues for the quarter came in at $978.2 million, up 26.7% year over year from $772.1 million. The S&P Global Market Intelligence consensus FFO per share estimate for the quarter was 82 cents. In the wake of the COVID-19 pandemic, Prologis revised its core FFO per share guidance to between $3.55 and $3.65 for the full year, compared with previous guidance of $3.67 to $3.75. For the full year, the S&P Global Market Intelligence consensus FFO per share estimate is $3.63. The logistics giant also forecasts a year-end occupancy rate of between 94.5% to 96% from previous guidance of between 96% and 97%. CFO Thomas Olinger said the revised guidance assumes reduced demand into the third quarter with a recovery expected toward the end of the year. |
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