Earnings Preview: ProLogis

Feb. 7.08 | About: Prologis (PLD)

ProLogis (NYSE:PLD), an industrial REIT, is expected to report Q4 earnings Thursday with a conference call scheduled for 10:00 am ET.

Guidance

Analysts are looking for EPS of 68c on revenue of $285.42M. The consensus range is 59c to 79c for EPS and revenue of $280.77M to $290.07M, according to First Call. On February 4, ProLogis' board authorized a dividend of 0.5175c per share. Also on February 4, Cantor Fitzgerald said that they believe the REIT sector has stabilized. The firm thinks that commercial real estate REITs' fundamentals are healthy. Declines in equity REITs' prices have been excessive, Cantor Fitzgerald added.

Media analysis

On January 5, Barron's selected ProLogis as a "stand-out industrial REIT for 2008." They wrote that the company is likely to outperform this year, since its growing business and diverse income stream could protect it from a U.S. slowdown. In the article, ProLogis CEO Jeffrey Schwartz reaffirmed the positive outlook the company had offered in October. "Our fundamentals are extremely strong throughout the world," he said.