Prologis, Inc. (PLD), a leader in logistics real estate, announced on Tuesday a remarkable increase in net earnings for the fourth quarter. Earnings attributable to common stockholders soared to $1.28 billion, or $1.37 per share, compared to $629 million, or $0.68 per share, in the same quarter of the previous year.
This performance exceeded the expectations of analysts surveyed by Thomson Reuters, who had anticipated earnings of $0.68 per share for this period, typically excluding special items.
The company's Core Funds From Operations (Core FFO) rose to $1.50 per share, up from $1.26 per share a year earlier. When excluding Net Promote Income (Expense), Core FFO was $1.42 per share, compared to $1.29 per share in the previous year.
Prologis also reported an increase in total revenues, which reached $2.20 billion, up from $1.89 billion in the corresponding quarter last year. Analysts had projected revenues of $1.94 billion for the quarter.
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