SPRE - Why Industrial REIT Prologis Shares Are Trading Higher Today | Benzinga
Prologis, Inc. (NYSE:PLD) shares are trading higher after the company reported second-quarter FY24 results.
Rental revenue of $1.85 billion missed the consensus estimates of $1.875 billion. The company’s average occupancy stood at 96.1%, with a leased 39.6MSF operating portfolio and a 7.0MSF development portfolio.
Core funds from operations per diluted share were $1.34, lower than $1.83 a year ago but above the consensus of $1.33.
During the quarter, Prologis and its co-investment ventures issued an aggregate of $1.2 billion of debt at a weighted average interest rate of 4.4% and a weighted average term of 10.9 years.
As of June-end, debt as a percentage of total market capitalization was ...