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Prologis logs 68.6% YOY rise in Q2 core FFO, revises guidance from SNL Real Estate Daily Prologis logs 68.6% YOY rise in Q2 core FFO, revises guidanceByline: Ali Imran Naqvi Prologis Inc. said its core funds from operations attributable to common stockholders for the second quarter totaled $853.5 million, a rise of 68.6% from $506.2 million in the prior-year period. On a per-share basis, core FFO was $1.11, compared to 77 cents a year ago. The company said its second quarter included 23 cents of net promote income, while the same 2019 period had no net promote income. Adjusted FFO increased 32.6% in the aggregate from the year-ago period to $822 million from $620 million. The S&P Global Market Intelligence consensus estimate for second-quarter FFO per share was 99 cents. For the second quarter, the industrial real estate investment trust disclosed total revenues of $1.27 billion, a 60.2% year-over-year gain from $790.4 million. The logistics giant revised its guidance range for full-year core FFO per share to between $3.70 and $3.75. The previous per-share range given in April was between $3.55 and $3.65 and between $3.67 to $3.75 in January. The S&P Market Intelligence consensus for full-year FFO per share is $3.59. |
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