Prologis Now Sees Better Profit, Improved Occupancies for Year

By Micah Maidenberg

Prologis Inc. on Monday bumped up its financial and operational expectations for the year.

The owner of warehouses said it now expects net earnings of $2.80 to $2.90 a share during 2021, up from $2.36 to $2.52 a share.

Funds from operations on after adjustments are expected to range from $3.96 to $4.02 a share, up 1.5% from an earlier forecast at the midpoint. FFO is a profit metric that excludes some costs that are important for property owners, such as depreciation.

Average occupancy at Prologis is now expected to range from 96.25% to 96.75%, up from 95.50% to 96.5%.

"Given the strength of our results and the market, we are taking up our guidance metrics across the board," said Prologis Finance Chief Thomas Olinger.

Write to Micah Maidenberg at [e-mail]

(END) Dow Jones Newswires

04-19-21 0857ET