U.S. logistic companies like UPS and FedEx, whom Prologis counts as some of its biggest customers, have seen a sustained fall in freight volumes caused by a ...
- Warehouse-focused real estate investment trust Prologis lowered its full-year forecast for core funds from operations on Wednesday, citing lower occupancy due to a slowdown in freight demand , sending its shares down 3% in premarket trading.
It also lowered the mid-point for average occupancy of its warehouses by 75 basis points, expecting an occupancy rate of 95.75% to 96.75% from 96.50% to 97.50% previously."We expect net absorption in the upcoming quarters to be lower than our prior expectations and leasing to stay competitive in a handful of our larger, higher-rent markets," CFO Tim Arndt said.
-- Donald Trump’s social media startup tumbled on Monday, extending a two-week slump, after the company took a first step toward allowing the former president and other insiders to capitalize on their stakes.
Prologis Funds From Operations Freight Demand Real Estate Investment Trust
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