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REIT Comments |
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07/22/2010
PLD $11
ProLogis Trust PLD 2Q 2010 FFO $0.15 (adjusted) v $0.19 (adjusted) DOWN (21%)
PLD guidance 2010 FFO unchanged in range of $0.70-$0.78 v $1.10 DOWN (36%) due to dilution from shares outstanding
PLD 2Q 2010 same property occupancy UP +1.8%
PLD 2Q 2010 total property occupancy 89.7% UP +0.5%
PLD 2Q 2010 same property NOI DOWN (3.4%)
PLD 2Q 2010 rent decline on lease renewals DOWN (15.7%)
PLD 2Q 2010 retention 78.1%
PLD expects to achieve contributions and dispositions of $1.3-$1.5 billion for 2010
PLD an Industrial REIT with a portfolio of distribution facilities in North America, Europe and Asia
PLD we rank 3 HOLD
PLD market cap $5.2 billion
PLD an S&P 500 Index REIT
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