Prologis Again Boosts FY21 Outlook - Quick Facts

(RTTNews) - While reporting its financial results for the second quarter of fiscal 2021 on Monday, logistics real estate firm Prologis Inc. (PLD) again raised its net earnings and core funds from operations outlook for the full-year 2021.

For fiscal 2021, the company now forecasts net earnings in a range of $3.08 to $3.14 per share, core funds from operation or core FFO in a range of $4.04 to $4.08 per share and core FFO, excluding net promote expense, in a range of $4.02 to $4.06 per share.

Previously, the company expected net earnings in the range of $2.80 to $2.90 per share, core FFO in the range of $3.96 to $4.02 per share and core FFO, excluding net promote expense, in the range of $3.98 to $4.04 per share.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.07 per share for the year. Analysts' estimates typically exclude special items.

"Our outlook is equally promising, supported by our in-place-to-market spread of nearly 17 percent; a land portfolio with a build-out potential of about $18 billion; and an industry-leading balance sheet," said Thomas Olinger, CFO, Prologis.