Prologis Hits Consensus on Q3 FFO

SAN FRANCISCO—Prologis Inc. on Tuesday reported core funds from operations of 58 cents per share for the third quarter, in line with analysts’ consensus. The industrial REIT’s Q3 revenues of $580 million beat the Zacks Equity Research consensus estimate of $537 million and marked a significant increase over the $415.2-million figure in the same quarter last year.

“The team produced exceptionally strong financial and operating results in the third quarter,” says Hamid Moghadam, chairman and CEO at Prologis. “The underlying trends in our businesses continue to be favorable, and as we look across our global portfolio, rents are trending higher while supply remains in check.”