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Prologis (PLD) Q2 FFO Beats Estimates, Sees NOI Growth
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Have you been eager to see how Prologis Inc.’s (PLD - Free Report) performed in Q2 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 60 cents, beating the Zacks Consensus Estimate of 59 cents.
Same store net operating income ("NOI") growth was primarily responsible for this beat.
How Was the Earnings Surprise Trend?
Prologis has a decent earnings surprise history. Before posting a beat in Q2, the company delivered a positive surprise in two out of prior four quarters and in-line results in the rest two occasions, as shown in the chart below. Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.66% in the trailing four quarters.
Prologis posted revenues of $602 million, which beat the Zacks Consensus Estimate of $581 million. It compared favorably with the year-ago number of $510 million.
Key Developments to Note:
Net effective same store NOI grew 6.1% and net effective rent change on rollover was +17.8%.
Prologis expects 2016 core FFO in the range of $2.52 – $2.58 per share, keeping the midpoint of the core FFO guidance constant.
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.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Check back later for our full write up on this PLD earnings report later!
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Prologis (PLD) Q2 FFO Beats Estimates, Sees NOI Growth
Have you been eager to see how Prologis Inc.’s (PLD - Free Report) performed in Q2 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 60 cents, beating the Zacks Consensus Estimate of 59 cents.
Same store net operating income ("NOI") growth was primarily responsible for this beat.
How Was the Earnings Surprise Trend?
Prologis has a decent earnings surprise history. Before posting a beat in Q2, the company delivered a positive surprise in two out of prior four quarters and in-line results in the rest two occasions, as shown in the chart below. Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.66% in the trailing four quarters.
PROLOGIS INC Price and EPS Surprise
PROLOGIS INC Price and EPS Surprise | PROLOGIS INC Quote
Revenue Came Higher Than Expected
Prologis posted revenues of $602 million, which beat the Zacks Consensus Estimate of $581 million. It compared favorably with the year-ago number of $510 million.
Key Developments to Note:
Net effective same store NOI grew 6.1% and net effective rent change on rollover was +17.8%.
Prologis expects 2016 core FFO in the range of $2.52 – $2.58 per share, keeping the midpoint of the core FFO guidance constant.
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.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Check back later for our full write up on this PLD earnings report later!
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 >>