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Prologis Boosts FY21 Outlook - Quick Facts

While reporting its financial results for the first quarter of fiscal 2021 on Monday, Prologis Inc. (PLD) raised its net earnings and core funds from operations outlook for the full-year 2021, based on the strength of its results and the market.

For fiscal 2021, the company now forecasts net earnings in a range of $2.80 to $2.90 per share, core funds from operation or core FFO in a range of $3.96 to $4.02 per share and core FFO, excluding net promote expense, in a range of $3.98 to $4.04 per share.

Previously, the company expected net earnings in the range of $2.36 to $2.52 per share, core FFO in the range of $3.88 to $3.98 per share and core FFO, excluding net promote expense, in the range of $3.90 to $4.00 per share.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.74 per share for the year. Analysts' estimates typically exclude special items.

"With our well-positioned portfolio, differentiated customer offerings and abundant investment capacity, we expect to continue to outperform while delivering exceptional customer service," said Hamid Moghadam, chairman and CEO, Prologis.

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