Prologis Boosts Earnings Outlook Amid Record Lease Signings

San Francisco-based Prologis raised its earnings guidance for the second time this year after reporting record lease signings in the second quarter. The company signed 67 million square feet of new leases, surpassing the prior quarter's record. Revenue reached $2.43 billion, a 11% year-over-year increase that exceeded analyst estimates. Average occupancy stood at 95%, while net effective rent growth hit 36.9%. The management highlighted expanding opportunities in logistics, digital infrastructure, and energy needs. Core FFO guidance was raised to a range of $6.22-$6.30.

Prologis' performance underscores growing demand in the U.S. logistics sector. Investors should focus on the company's disciplined growth strategy for long-term value creation.