Prologis (PLD) Q4 FFO In-Line, Revenues Beat
Have you been eager to see how Prologis Inc. PLD performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this San Francisco, CA – based industrial real estate investment trust’s (REIT) earnings release this morning:
An In-line FFO
Prologis came out with core funds from operations (“FFO”) per share of 63 cents, in-line with the Zacks Consensus Estimate.
How Was the Earnings Surprise Trend?
Prologis has a decent earnings surprise history. Before posting an in-line Q4 results, the company delivered positive surprises with an average beat ratio of 3.2%. This is shown in the chart below.
ProLogis, Inc. Price and EPS Surprise
ProLogis, Inc. Price and EPS Surprise | ProLogis, Inc. Quote
Revenue Came Higher Than Expected
Prologis posted revenues of $620.1 million, which beat the Zacks Consensus Estimate of $600 million. However, it came in lower than the year-ago number of $643.2 million.
Key Developments to Note:
Net effective same store net operating income (NOI) – Prologis share – is expected to grow at 4-5% in 2017.
Prologis provided core FFO per share outlook for full year 2017. The company projects core FFO per share in the range of $2.60–$2.70.
What Zacks Rank Says
Prologis currently has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Check back later for our full write up on this PLD earnings report later!
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ProLogis, Inc. (PLD): Free Stock Analysis Report
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