ADVFN - Advanced Financial Network.
HOME» NYSE » P » PLD Stock Price » PLD Stock News

Prologis Share News

 Prologis Stock Price
PLD Stock Price
 Prologis Stock Chart
PLD Stock Chart
 Prologis Stock News
PLD Stock News
 Prologis Company Information
PLD Company Information
 Prologis Stock Trades
PLD Stock Trades

ProLogis 1Q Loss Narrows Amid Fewer Charges

DOW JONES NEWSWIRES ProLogis' (PLD) first-quarter loss narrowed sharply amid fewer charges though the warehouse real-estate investment trust saw weaker revenue. "Globally, the gradual recovery in industrial real-estate continues, with new supply in the major logistics markets still constrained and demand remaining stable," Chief Executive Walter C. Rakowich said. However, the pace of the recovery slowed in the latest period amid concerns about sovereign debt, rising oil prices and crises in Japan. The industrial property-focused real-estate investment trust's losses have widened lately, though it has also improved its core results. The commercial real-estate market, battered by the downturn as demand for space in offices, warehouses and apartment buildings slumped, has largely stabilized and shown some signs of recovery. ProLogis has been at the center of consolidation in the industry, agreeing in January to an all-stock merger with AMB Property Corp. (AMB) and saying last week it planned to make an offer for ProLogis European Properties (PERP.AE) that valued the Euronext-listed warehouse developer at about EUR1.2 billion ($1.73 billion) at the time. ProLogis reported a loss of $40.2 million, or 8 cents a share, compared with a year-earlier loss of $91.1 million, or 19 cents a share. Core funds from operations--a key profitability metric for REITs--rose to 13 cents a share from 11 cents. The latest period excluded 2 cents in restructuring-related and other charges and net charges of 10 cents a year earlier. Revenue fell 9.9% to $238.8 million, though rental income dropped 6.7%. Analysts polled by Thomson Reuters most recently predicted FFO of 15 cents on $219.8 million in revenue. At the end of the quarter, ProLogis' industrial operating portfolio was 90.7% leased, down 0.3 percentage point from a year earlier. Later Wednesday, ProLogis' merger partner AMB said it swung to the black in the most recent quarter. It reported a profit of $12.1 million, or 5 cents a share, compared with a prior-year loss of $151,000, or 3 cents a share. The per-share figures include preferred dividends and allocation to participating securities. Core FFO, as adjusted, rose to 32 cents from 29 cents. Revenue rose 7.6% to $165.8 million. Analysts had expected FFO of 32 cents and revenue $157 million in revenue. The combination of the two companies--the biggest publicly traded warehouse owners in the U.S.--would be one of the biggest real-estate deals since the recession. ProLogis shares closed Tuesday at $16.08, while AMB closed at $36.12. Both were inactive premarket. -By Matt Jarzemsky and Tess Stynes, Dow Jones Newswires; 212-416-2240; [email protected]

Stock News for Prologis (PLD)
DateTimeHeadline
02/24/201703:00:00Prologis and CBRE Global Investment Partners Announce Formation...
02/23/201715:00:00Prologis Board of Directors Approves 5 Percent Increase in Quarterly...
01/25/201717:20:00Prologis Announces Tax Treatment of 2016 Distributions
01/25/201707:14:00Today's Top Supply Chain and Logistics News From WSJ
01/24/201709:22:00Prologis Profit Helped by Lower Expenses
01/24/201708:00:00Prologis Reports Fourth Quarter and Full-Year 2016 Earnings Results
01/13/201709:00:00Prologis Consolidates Two European Funds and Strengthens Relationship...
01/06/201708:00:00Prologis Completes 18 Build-to-Suit Development Projects in Second...
01/03/201716:10:00Prologis to Announce Fourth Quarter 2016 Results January 24
12/12/201608:00:00Nippon Prologis REIT Prices New Investment Units
12/05/201608:00:00Prologis Announces Nippon Prologis REIT's Issuance of New Investment...
12/01/201616:59:00Prologis Declares Quarterly Dividends
11/07/201609:00:00Prologis to Host Investor Forum in New York City Nov. 9
11/01/201613:40:00Prologis to Build First Multistory Warehouse in the U.S.
11/01/201613:36:00Prologis to Build First Multistory Warehouse in the U.S.
10/26/201603:02:00REIT Earnings to Diverge -- WSJ
10/25/201615:31:00REIT Earnings to Diverge Along Sectors
10/20/201609:21:00Prologis Revenue Rises As Customers Invest in Supply Chain
10/20/201608:00:00Prologis Reports Third Quarter 2016 Earnings Results
09/30/201609:00:00Prologis to Announce Third Quarter 2016 Results October 20

Prologis and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US