By Matt Grossman

 

Prologis Inc. posted greater revenue and funds from operations year over year in the third quarter as occupancy improved from a high baseline.

The San Francisco-based industrial landlord, a real-estate investment trust, logged core funds from operations of $1.04 a share, a rise from 90 cents a share 12 months earlier. Analysts polled by FactSet had forecast funds from operations of $1.03 a share.

Revenue was $1.18 billion, up from $1.08 billion a year ago. Analysts were expecting revenue of $1.04 billion.

Average occupancy was 96.6% in the quarter, up 0.6 percentage points from a quarter earlier. Prologis commenced leases of 49.5 million square feet of real estate in the quarter, it said.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

October 15, 2021 08:33 ET (12:33 GMT)

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