UPDATE 1-ProLogis third-quarter FFO rises

* Q3 FFO $0.21 vs Street view $0.18

* To net $830 million from Blackstone deal

NEW YORK, Oct 25 (BestGrowthStock) – ProLogis (PLD.N: ), one of the
world’s largest owners of warehouse and distribution centers,
on Monday reported third-quarter funds from operations (FFO)
that rose mostly on property sales and greater occupancy.

The company reported FFO excluding significant non-cash
items of $108.8 million, or 22 cents per share, compared with
$94.5 million, or 21 cents per share a year earlier.

Including items, it posted FFO of 21 cents per share, ahead
of the 18 cents a share analysts had forecast, according to
Thomson Reuters I/B/E/S.

The company left its 2010 forecast for its core results
unchanged, but sees a variety of one-time charges, some of them
cash. For 2011, the company forecast FFO per share to be up 15
percent over 2010.

Third-quarter occupancy rose to 89.9 percent, up from 89.7
percent in the second quarter.

ProLogis recently agreed to sell a North American portfolio
to Blackstone Real Estate Advisors for $1.02 billion generating
net proceed of $830 million. It sees total sales for the year
to be $1.65 to $1.7 billion.
(Reporting by Ilaina Jonas. Editing by Robert MacMillan)

UPDATE 1-ProLogis third-quarter FFO rises