Prologis Inc.
(NYSE:PLD) stock rose Thursday after the logistics real estate investment trust reported second-quarter results that topped Wall Street expectations on funds from operations (FFO), raised its full-year outlook for the second time this year and received a higher price forecast from Barclays.
Core FFO came in at $1.63 per diluted share, up from $1.46 a year earlier and above the analyst consensus estimate of $1.54.
Net earnings increased to $1.13 per diluted share from $0.61 a year earlier.
Rental and other revenue rose to $2.183 billion from $2.037 billion a year ago but missed analysts' estimate of $2.226 billion.
