Time New York: Thu 16 Aug 07:53 am  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Prologis (PLD) Q1 FFO Beats Estimates on Higher Revenues

Zacks

Have you been eager to see how Prologis Inc. PLD performed in Q1 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:

A FFO Beat

Prologis came out with core funds from operations ("FFO") per share of 80 cents, beating the Zacks Consensus Estimate of 74 cents.

Better-than-expected growth in revenues was primarily responsible for this beat.

How Was the Earnings Surprise Trend?

Prologis has a decent earnings surprise history. Before posting a beat in Q1, the company delivered positive surprise in three out of prior four quarters and in-line result in the other occasion, as shown in the chart below.

Prologis, Inc. Price and EPS Surprise

Prologis, Inc. Price and EPS Surprise | Prologis, Inc. Quote

Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.7% in the trailing four quarters.

Revenue Came Higher Than Expected

Prologis’ rental and other revenues amounted to $560.7 million, which beat the Zacks Consensus Estimate of $547.4 million.

Key Developments to Note:

Prologis raised its guidance for 2018 core FFO per share and same store net operating income (NOI). The company now projects core FFO per share in the range of $2.95-$3.01, compared with prior guidance of $2.85-$2.95. This denotes an increase of 8 cents per share at the midpoint.

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. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.

Check back later for our full write up on this PLD earnings report!

Breaking News: Cryptocurrencies Now Bigger than Visa

The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.

Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.

Click here to access these stocks. >>



Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.