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Prologis Narrows FY18 Profit View

Prologis, Inc. (PLD) said that it now expects Core funds from operation for fiscal year 2018 to be in the range of $3.01 to $3.03 per share, compared to the prior year outlook of $3.00 to $3.04 per share.

The company now projects net earnings per share for 2018 to be in the range of $2.68 to $2.72 compared to the previous outlook of $2.67 to $2.73 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $2.01 per share for fiscal year 2018. Analysts' estimates typically exclude special items.

"At the midpoint of our 2018 guidance, our annual Core FFO* growth will have averaged more than 9 percent, excluding promotes, and more than 8 percent with promotes over the last two years. Looking ahead, we remain well-positioned to deliver superior growth given the rental upside embedded in our portfolio and our ability to create value from the build-out of our land bank." said Thomas Olinger, chief financial officer, Prologis.

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