LONDON, UK / ACCESSWIRE / January 25, 2018 /Active-Investors.com has just released a free earnings report on Prologis, Inc. (NYSE: PLD). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PLD. The Company posted its financial results on January 23, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The San Francisco, California-based Company's quarterly core funds from operations (FFO) per share grew on a year-over-year basis, outperforming market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Prologis most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
During Q4 FY17, Prologis' total revenues came in at $619.92 million compared to $620.12 million in Q4 FY16. The Company's total revenue numbers topped market consensus estimates of $534.27 million. The Company generated $550.65 million of revenues from rentals in Q4 FY17 compared to $559.89 million in the year ago same period. The Company's strategic capital revenues were $68.15 million during Q4 FY17 versus $56.44 million in Q4 FY16. Furthermore, Prologis' development, management, and other revenues were $1.13 million in Q4 FY17 compared to $3.79 million in Q4 FY16.
The industrial real estate developer reported net earnings attributable to common stockholders of $295.52 million, or $0.55 per diluted share, in Q4 FY17 compared to $440.54 million, or $0.82 per diluted share, in Q4 FY16. The Company's core FFO stood at $373.68 million, or $0.67 per diluted share, during Q4 FY17 compared to $345.78 million, or $0.63 per diluted share, in Q4 FY16. Wall Street had expected the Company to report a core FFO of $0.66 per diluted share.
During FY17, Prologis' total revenues grew to $2.62 billion from $2.53 billion in FY16. The Company's net earnings attributable to common stockholders were $1.64 billion, or $3.06 per diluted share, for FY17; up from $1.20 billion, or $2.27 per diluted share, in FY16. Furthermore, core FFO came in at $1.55 billion, or $2.81 per diluted share, for FY17 versus $1.40 billion, or $2.57 per diluted share, in FY16.
Prologis' total expenses grew to $461.51 million in Q4 FY17 from $455.91 million in Q4 FY16. For Q4 FY17, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was $583.80 million compared to $640.92 million in Q4 FY16. The Company's operating income was $158.42 million in Q4 FY17 versus $164.21 million in the previous year's comparable quarter. Furthermore, period end occupancy was 97.2% in Q4 FY17 compared to 97.1% in Q4 FY16.
For the year ended December 31, 2017, same store rental revenues were $993.76 million compared to $958.21 million for the year ended December 31, 2016. Prologis' same store rental expenses came in at $250.28 million in Q4 FY17 compared to $237.70 million in the last year's corresponding quarter. Furthermore, same store net operating income (NOI) stood at $743.48 million in Q4 FY17 compared to $720.51 million in Q4 FY16.
In its guidance for FY18, Prologis' management expects net earnings per share to be in the range of $2.10 to $2.25, whereas diluted core FFO per share is forecasted to be between $2.85 and $2.95.
Stock Performance Snapshot
January 24, 2018 - At Wednesday's closing bell, Prologis' stock slightly declined 0.75%, ending the trading session at $64.48.
Volume traded for the day: 3.17 million shares, which was above the 3-month average volume of 2.05 million shares.
Stock performance in the last month – up 2.33%; previous three-month period – up 0.03%; last six-month period – up 6.99%; and past twelve-month period – up 24.41%
After yesterday's close, Prologis' market cap was at $34.11 billion.
Price to Earnings (P/E) ratio was at 19.39.
The stock has a dividend yield of 2.73%.
The stock is part of the Financial sector, categorized under the REIT – Industrial industry. This sector was up 0.5% at the end of the session.
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