Real estate investment trust Prologis, Inc. (NYSE: PLD) on Tuesday announced financial results for the third quarter of 2023, reporting higher revenues.
- Net earnings per share declined to $0.80 in Q3 from $1.36 in the corresponding period of last year
- Core funds from operations per share was $1.30, compared with $1.73 for the same period in 2022
- Total revenues, meanwhile, increased to $1.92 billion in the three-month period from $1.75 billion a year earlier
- Net earnings attributable to common stockholders was $746 million, down from $1.01 billion reported in Q3 2022
- For fiscal 2023, the management expects earnings per share to be in the range of $3.30 to $3.35
- Full-year core funds from operations are expected to be in the range of $5.58 per share to $5.60 per share
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