Prologis: Q3 Earnings Snapshot

SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Prologis Inc. (PLD) on Tuesday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.

The real estate investment trust, based in San Francisco, said it had funds from operations of $1.24 billion, or $1.30 per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.26 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.