More profit for shareholders
Prologis, a global provider in logistics real estate, has reported its results for the third quarter of 2019. Net earnings per diluted share were USD 0.71 for the quarter compared with USD 0.60 for Q3/2018. Core funds from operations per diluted share was USD 0.97 for the quarter, including USD 0.18 of net promote income, compared with USD 0.72 for the same period in 2018, which did not include any promote income.
"Our third-quarter results were excellent—reflecting record rent increases and significant earnings from our strategic capital business," said Hamid R. Moghadam, chairman and CEO of Prologis. "Markets remain healthy, driven by customers who are prioritising proximity to consumers to offset supply chain costs such as labour and transportation. Additionally, investor interest for our strategic capital ventures is exceptional, as evidenced by a record capital raise of more than USD 1.6 billion for our open-ended vehicles." (mw)