Prologis: Q2 Earnings Snapshot
By AP News
Published - Jul 18, 2023, 08:12 AM ET
Last Updated - Jul 18, 2023, 08:12 AM EDT
SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Prologis Inc. (PLD) on Tuesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in San Francisco, said it had funds from operations of $1.74 billion, or $1.83 per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.68 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.
