Prologis reports in-line Q1, slightly trims 2024 outlook [Yahoo! Finance]
Prologis, Inc. (PLD)
Last prologis, inc. earnings: 4/21 08:00 am
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Source: Yahoo! Finance
It's calling for occupancy and net operating income to step lower. Prologis ( NYSE: PLD ) reported core funds from operations (FFO) of $1.28 in the first quarter of 2024, which was in line with the consensus estimate. It lowered FFO guidance by 1% to a new range of $5.37 to $5.47, which was slightly below analysts' expectations of $5.50 at the time of the print. “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,” said Hamid Moghadam, co-founder and CEO. Rental revenue increased 12% year over year (y/y) to $1.83 billion, pushing consolidated revenue 11% higher to $1.96 billion. Occupancy across Prologis' portfolio was 96.8% in the period, which was 30 basis points lower than the fourth quarter and 120 bps lower y/y. Management's new 2024 outlook calls for average occupancy to be between 95.75% and 96.75%, a 75-bp reduction at the midpoint of the rang
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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