Prologis Core FFO per share rises to 1.60 dollars

Prologis’s third-quarter diluted Core FFO per share increased to 1.60 US dollars from 1.49 US dollars in the same period a year earlier, according to its corporate report of 15 October. For participants in Hungary’s logistics property market, this is an international comparison, not a direct measurement of domestic rents.

Core FFO is an adjusted financial measure used to assess property companies’ operations and differs from accounting net earnings. The company’s detailed supplement also provides a reconciliation. Our calculation puts annual growth in the per-share measure at 7.38 percent: we divided the new value by the previous one and subtracted one.

The comparison cannot determine Hungarian warehouses’ occupancy, an individual rental quotation or an investor’s personal return. Assessing a domestic site requires separate examination of location, lease duration, energy supply and the tenant’s ability to pay. The company-wide average covers a different geography and set of contracts.

Our report on Hungarian rents examines a different property type, while European industrial-production data provide part of the demand background. The release describes shareholder approval of the SEGRO transaction as a milestone but treats completion as a future step. Actual completion is the next question; this announcement does not establish a completed combination.