Prologis rises on Q3 results beat, raises FY forecast
** Shares of warehouse-focused real estate investment trust (REIT) Prologis PLD.N up 1.40% to $123 premarket
** "The bottoming process is underway as our customers navigate an uncertain environment," said Prologis CEO Hamid R. Moghadam
** PLD expects 2024 adj. core funds from operations (FFO) to be in range of $5.49 to $5.53 per share, from the previous $5.46-$5.54 per share range
** Co posts Q3 adj. EPS of $1.08/shr, beating analysts' estimate of $0.63/shr
** Co posts Q3 total rev of $2.04 bln, up from $1.92 bln y/y, beating estimates of $1.95 bln
** 16 of 23 brokerages rate the stock "buy" or higher and seven "hold"; their median PT is $141 - data compiled by LSEG
** Up to last close, stock down 9% YTD
Reporting by Anshuman Tripathy in Bengaluru
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