(RTTNews) - While reporting its financial results for the third quarter on Tuesday, Prologis Inc. (PLD) raised its earnings outlook for fiscal 2020.
ProLogis now forecasts fiscal 2020 net earnings in a range of $2.20 to $2.24 per share and core FFO in a range of $3.76 to $3.78 per share. Earlier, the company projected full-year net earnings in a range of $2.06 to $2.18 per share and core FFO in a range of $3.70 to $3.75 per share.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.78 per share for the year. Analysts' estimates typically exclude special items.
"Our outlook continues to improve based on results, leasing and lower credit losses. Year-over-year Core FFO growth is sector leading at 13.7 percent at the midpoint, excluding promotes, while keeping leverage flat," said Thomas Olinger, chief financial officer of Prologis.
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