Prologis Raises Full-Year Guidance

Published: 2021-10-15 08:38:02 ET PLD

By Matt Grossman

Prologis Inc. raised its full-year earnings guidance Friday and boosted its capital-deployment projections.

The San Francisco-based industrial landlord, a real-estate investment trust, said it now expects core funds from operations of $4.11 a share to $4.13 a share in 2021. Previously it had forecast core funds from operations of $4.04 a share to $4.08 a share.

Prologis held steady its forecast for average occupancy at 96.3% to 96.8%.

The company's outlook for capital-deployment grew. It now expects $3.5 billion to $3.8 billion in development starts this year, up from a previous projection of $3.05 billion to $3.35 billion. Prologis expects to spend $1.2 billion to $1.4 billion on acquisitions, compared with $700 million to $900 million previously.

Write to Matt Grossman at [email protected]

(END) Dow Jones Newswires

10-15-21 0837ET