PLD Lowers FFO; Shares Down
Shares of ProLogis (PLD) are down approximately 4.5% Thursday afternoon, a day after the distribution facilities company pulled back on its 2008 funds from operations guidance. The company now expects between $4 and $4.35, instead of the previous outlook of $4.65 to $4.85.
The company was also downgraded by a couple brokerage firms today.
PLD also established a FFO guidance for 2009, which was below Wall Street expectations, and raised its annual dividend.
The company is a Zacks #4 Rank with estimates for this year and next that are lower from 2 months ago.
Read the full analyst report on PLD

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