(RTTNews) - While reporting its financial results for the first quarter of fiscal 2021 on Monday, Prologis Inc. (PLD) raised its net earnings and core funds from operations outlook for the full-year 2021, based on the strength of its results and the market.
For fiscal 2021, the company now forecasts net earnings in a range of $2.80 to $2.90 per share, core funds from operation or core FFO in a range of $3.96 to $4.02 per share and core FFO, excluding net promote expense, in a range of $3.98 to $4.04 per share.
Previously, the company expected net earnings in the range of $2.36 to $2.52 per share, core FFO in the range of $3.88 to $3.98 per share and core FFO, excluding net promote expense, in the range of $3.90 to $4.00 per share.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.74 per share for the year. Analysts' estimates typically exclude special items.
"With our well-positioned portfolio, differentiated customer offerings and abundant investment capacity, we expect to continue to outperform while delivering exceptional customer service," said Hamid Moghadam, chairman and CEO, Prologis.
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