Prologis reports Q3 core FFO $1.30 , consensus $1.26

Reports Q3 Cash Same Store NOI 9.5%. Q3 core FFO, excluding Net Promote Income per diluted share, was $1.33 vs. $1.16 for 3Q22. “Our results reflect strong execution by our team and the quality of our global portfolio,” said Hamid Moghadam, CEO. “That said, until there is more stability in the economy, negative customer sentiment will weigh on demand. We remain focused on capturing our embedded lease mark-to-market, building out our land bank into a favorable future supply environment, and partnering with our customers to address their most critical pain points.”