ProLogis Q4 FFO rises
During the period, FFO was $0.58 per diluted share, up 3.6% over $0.56 per share in the fourth quarter of 2004. Net earnings were $109.1 million, a significant increase on the $262,000 posted in the prior-year period. Chief executive Jeffrey Schwartz said ProLogis' customer-driven demand supported further increases in overall occupancies, record leasing activity and positive net absorption across virtually all of the markets in which the company operates. On the back of the results, Colorado-based ProLogis has increased the range for 2006 FFO by $0.05 per share, resulting in a new range of $2.95 to $3.15 per share, prior to charges of $0.01 to $0.03 per share for the remaining costs associated with the Catellus merger and the move of the company's Denver headquarters.