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Prologis 2020 guidance beats consensus

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

Prologis (NYSE:PLD) sees 2020 core FFO per share at $3.67-$3.75, exceeding the average analyst estimate of $3.66.

Expects cash same-store net operating income growth (Prologis share) of 4.25%-5.25% and year-end occupancy of 96%-97%.

Prologis rises 1.7% in premarket trading.

Q4 core FFO per share of 84 cents matches consensus estimate and increased from 80 cents in the year-ago quarter.

Q4 total revenue of $826M crushes the consensus estimate of $727.3M and rose from $807M in the year-ago quarter.

    Rental and other revenue of $728M rose from $681M a year ago.

    Strategic capital revenue of $98M slipped from $126M a year ago; recognized promote revenue of $26M vs. $51M a year earlier.

Prologis share of Q4 cash same-store NOI increased 4.6% vs. 4.5% in Q4 2018; cash rent change of 15% accelerated from 10.8% in the year-earlier quarter.

Conference call at 12:00 PM ET.

Previously: Prologis FFO in-line, beats on revenue (Jan. 22)