Prologis beats estimates, boosts guidance

|About: Prologis (PLD)|By:, SA News Editor

Q1 core FFO of $347M or $0.63 per share vs. $330M and $0.61 one year ago. Dividend of $0.44 up from $0.42 a year ago.

Period-end occupancy of 96.6% up 50 basis points Y/Y. Leases signed of 39M square feet vs. 46M square feet, with company noting high occupancy as constraining that number.

Net effective rent change of 19.6% vs. 20.1% a year ago. Net effective same store NOI growth of 5.8% vs. 7.4% a year ago.

Full-year core FFO per share guidance is boosted to $2.72-$2.78 vs. $2.60-$2.70 previously.

Conference call at noon ET

Previously: Prologis beats by $0.01, beats on revenue (April 18)

PLD flat premarket