Trump has begun another trade war. Here's a timeline of how we got here
Canada's leader laments lost friendship with US in town that sheltered stranded Americans after 9/11
Chinese EV giant BYD's fourth-quarter profit leaps 73%
You're an American in another land? Prepare to talk about the why and how of Trump 2.0
Chalk talk: Star power, top teams and No. 5 seeds headline the women's March Madness Sweet 16
Purdue returns to Sweet 16 with 76-62 win over McNeese in March Madness
(Reuters) - Real estate investment trust (REIT) Prologis beat Wall Street expectations for fourth-quarter core funds from operations (FFO), helped by improving demand for its warehousing spaces and sale of a data center.
Shares of the warehouse-focused REIT were up 3.3% in morning trade.
Potential stocking activity by importers owing to the threat of new tariffs by the Trump administration has aided the demand for storage spaces across the U.S.
"Post-election leasing activity has been strong, and our ongoing conversations with customers support our expectation that the market is nearing an inflection point," CEO Hamid R. Moghadam said.
Prologis reported a core FFO, a key REIT metric closely monitored by investors, of $1.50 per share for the quarter ended December 31, beating analysts' estimates of $1.39, according to data compiled by LSEG.
The San Francisco, California-based company, however, forecast 2025 core FFO between $5.65 and $5.81, compared with Wall Street estimates of $5.77, amid uncertainty around future freight demand.
In December 2024, Prologis sold its Chicago-based Elk Grove data center to HMC Capital but did not disclose any financial details.
(Reporting by Abhinav Parmar and Rupali Chaudhary in Bengaluru; Editing by Vijay Kishore)
