Prologis: Q4 Earnings Snapshot

SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Prologis Inc. (PLD) on Wednesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.

The San Francisco-based real estate investment trust said it had funds from operations of $1.2 billion, or $1.26 per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.26 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $629.5 million, or 68 cents per share.

The industrial real estate developer, based in San Francisco, posted revenue of $1.89 billion in the period. Its adjusted revenue was $1.76 billion, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $1.78 billion.

For the year, the company reported funds from operations of $5.34 billion. Revenue was reported as $6.82 billion.

Prologis expects full-year funds from operations in the range of $5.42 to $5.56 per share.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PLD at https://www.zacks.com/ap/PLD