Prologis Lifts 2018 Profit View

(RTTNews) - Prologis Inc. (PLD) said that it raised its fiscal year 2018 Core funds from operations outlook to a range of $2.95 to $3.01 per share from the prior outlook of $2.85 to $2.95 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $1.43 per share for fiscal year 2018. Analysts' estimates typically exclude special items.

"The combination of strong operations and higher net promote income has led us to raise the midpoint of our full-year guidance ranges for both earnings and same store NOI,"said Thomas Olinger, chief financial officer.

The company also raised its fiscal year 2018 earnings per share guidance to a range of $2.50 to $2.60 from the previous outlook of $2.10 to $2.25 per share.

"Market conditions remain extremely healthy and our strategy is set. Going forward, it's all about execution," said Hamid R. Moghadam, chairman and CEO, Prologis.