Prologis (PLD) Meets Q1 FFO Estimates, Trims 2024 Guidance [Yahoo! Finance]
Prologis, Inc. (PLD)
Last prologis, inc. earnings: 4/21 08:00 am
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Source: Yahoo! Finance
This compares favorably with the year-ago quarter's figure of $1.22. However, the industrial REIT trimmed its guidance for the full-year 2024 as it prepares for a slower leasing environment in the next quarter or two. Reflecting the negative sentiments of investors, PLD shares are trending down during the initial hours of today's trading session. Per Hamid R. Moghadam, the co-founder, chairman and CEO of the company, " While operating conditions are healthy in the majority of our markets, customers remain focused on controlling costs, which is weighing on decision making and the pace of leasing." He also noted, “A volatile and persistently high interest rate environment, together with mounting geopolitical concerns, contribute to this indecision and its short-term effect on net absorption.” Prologis generated rental revenues of $1.83 billion, which surpassed the Zacks Consensus Estimate of $1.81 billion. The figure also increased from the $1.63 billion reported in the year-ago
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PLD
News
- Prologis, Inc. (NYSE: PLD) had its price target lowered by analysts at Barclays PLC from $135.00 to $123.00. They now have an "overweight" rating on the stock.MarketBeat
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- Prologis, Inc. (NYSE: PLD) had its price target lowered by analysts at JPMorgan Chase & Co. from $143.00 to $128.00. They now have an "overweight" rating on the stock.MarketBeat
PLD
Earnings
- 4/17/24 - Miss
PLD
Sec Filings
- 4/29/24 - Form 4
- 4/23/24 - Form 4
- 4/2/24 - Form 4
- PLD's page on the SEC website