Prologis, Inc.’s PLD fourth-quarter 2024 core funds from operations (FFO) per share of $1.50 surpassed the Zacks Consensus Estimate of $1.38. Nonetheless, rental revenues of $1.94 billion missed the Zacks Consensus Estimate by simply 0.09%.
See the Zacks Earnings Calendar to remain forward of market-making information.
Core FFO per share and rental revenues reported a yr over yr improve of 19% and 10.3%, respectively.
For 2024, the corporate reported a core FFO per share of $5.56, down 0.9% from the earlier yr. Nonetheless, the determine beat the Zacks Consensus Estimate of $5.45. Rental revenues of $7.51 billion elevated 10.2% yr over yr however missed the consensus mark of $7.52 billion.
Prologis, Inc. Value, Consensus and EPS Shock
Prologis, Inc. price-consensus-eps-surprise-chart | Prologis, Inc. Quote
PLD’s Revenues Enhance
PLD’s rental revenues elevated 10.3% yr over yr to $1.94 billion within the fourth quarter of 2024. The determine was solely 0.2% decrease than our estimate.
Strategic capital revenues grew 95.4% yr over yr to $253.4 million. It was considerably increased than our estimate of $124.4 million.
Growth administration and different revenues skilled a year-over-year improve of 167.9%, totaling $9.8 million. The determine was increased than our estimate of $2 million.
Rental & different revenues got here in at $1.95 billion, which elevated 10.7% from the prior-year quarter. Nonetheless, it was solely 0.1% decrease than our estimate.
PLD’s Occupancy Shrunk
As of Dec 31, 2024, the typical occupancy for Prologis’ owned and managed portfolio stood at 95.6%, down 150 foundation factors from 97.1% as of Dec. 31, 2023. The common occupancy was decrease than our consensus estimate of 95.85%.
PLD’s Monetary Place
Prologis exited the fourth quarter of 2024 with money and money equivalents of $1.32 billion, up from $780.9 million on the finish of the third quarter of 2024. Complete liquidity amounted to $7.38 billion on the finish of the quarter.
2025 Steerage for PLD
Prologis supplied its 2025 core FFO per share steerage within the vary of $5.65-$5.81. The Zacks Consensus Estimate for a similar is at present pegged at $5.79.
The corporate expects common occupancy to be between 94.5% and 95.5%. Money same-store NOI (Prologis share) is projected within the vary of 4-5%.
The corporate has issued its outlook for capital deployment (Prologis share) on growth begins of $2.25-$2.75 billion. Spending on acquisitions is projected to be $750 million-$1.25 billion. Tendencies are estimated at $1.00-$1.50 billion.
Prologis at present carries a Zacks Rank #4 (Promote).
Upcoming Earnings Releases
We now sit up for the earnings releases of different REITs, akin to BXP, Inc. BXP and Terreno Realty TRNO, slated to report on Jan. 28 and Feb. 5, respectively.
The Zacks Consensus Estimate for BXP’s fourth-quarter 2024 FFO per share is pegged at $1.79, which suggests a year-over-year lower of 1.7%. BXP at present carries a Zacks Rank #3 (Maintain).
The Zacks Consensus Estimate for Terreno’s fourth-quarter 2024 FFO per share is pegged at 62 cents, which suggests a year-over-year improve of 6.9%. TRNO at present carries a Zacks Rank #2 (Purchase). You’ll be able to see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Notice: Something associated to earnings offered on this write-up represents funds from operations (FFO), a broadly used metric to gauge the efficiency of REITs.
Zacks’ Analysis Chief Names “Inventory Most Prone to Double”
Our workforce of consultants has simply launched the 5 shares with the best chance of gaining +100% or extra within the coming months. Of these 5, Director of Analysis Sheraz Mian highlights the one inventory set to climb highest.
This high choose is among the many most progressive monetary companies. With a fast-growing buyer base (already 50+ million) and a various set of innovative options, this inventory is poised for giant beneficial properties. In fact, all our elite picks aren’t winners however this one might far surpass earlier Zacks’ Shares Set to Double like Nano-X Imaging which shot up +129.6% in little greater than 9 months.
Free: See Our Top Stock And 4 Runners Up
Prologis, Inc. (PLD) : Free Stock Analysis Report
BXP, Inc. (BXP) : Free Stock Analysis Report
Terreno Realty Corporation (TRNO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
