Logistics Real Estate Company Prologis' Q3 Earnings: FFO Beats, Revenue Misses, Revises FY24 Guidance

Prologis, Inc. (NYSE:PLD) shares are trading higher after the company reported third-quarter financial results.

Rental revenue of $1.90 billion missed the consensus estimates of $1.95 billion. The company’s average occupancy stood at 95.9%, with a leased 49.0MSF operating portfolio and a 1.8MSF development portfolio.

Core funds from operations per diluted share were $1.43, higher than $1.30 a year ago and above the consensus of $1.37.

During the quarter, Prologis and its co-investment ventures issued an aggregate of $4.6 billion of debt at a weighted average interest rate of 4.6% and a weighted average term of 8.9 ...