Prologis Q2 FFO/shr Increases

(RTTNews) - Prologis, Inc.,(PLD), an owner, operator and developer of industrial real estate, Wednesday reported Funds From Operation or FFO for the second quarter of $202.3 million or $0.41 per share, higher than $172.6 million or $0.37 per share last year.

Core FFO for the three-month period was $203.3 million or $0.41 per share, compared with $201.3 million or $0.43 per share during the corresponding quarter last year.

Net loss narrowed to $1.5 million from $8.1 million reported during the same period last year. On a per share basis, the company reported breakeven earnings for this quarter, compared with loss per share of $0.02 last year.

Prologis' revenue decreased to $419.4 million from prior year's $501.1 million.

The company narrowed its full-year Core FFO guidance range to $1.63 to $1.67 per share from the previously announced range of $1.60 to $1.70 per share, and expects GAAP earnings of $0.58 to $0.62 per share.