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ProLogis (NYSE:PLD), a REIT specializing in distribution facilities, is expected to report Q3 earnings before market open Thursday Oct. 23, with a conference call scheduled for 10:00 am.

Guidance

Analysts are looking for EPS of 55c on revenue of $265.05M.

Analyst Views

ProLogis last month reduced its 2008 FFO forecast to $4.00-$4.35 per share from $4.65-$4.85 per share. The REIT said it was taking a more conservative outlook on the valuation and contribution timing on a portion of its business. However, ProLogis also announced that it was increasing its quarterly dividend 10.2% to 57c. After the REIT reduced its guidance and raised its dividend, Fitch announced that it would not change its credit rating on ProLogis. However, Deutsche Bank responded by downgrading the REIT to Hold from Buy, while RBC Capital dropped it to Sector Perform from Outperform. 

Source: Earnings Preview: ProLogis