Prologis Inc. (NYSE:PLD) shares rose Thursday after the warehouse-focused real estate investment trust reported better-than-expected first-quarter funds from operations and raised its full-year 2026 outlook, with the midpoint topping estimates.
Revenue And Earnings Performance
Rental and other revenue totaled $2.137 billion, missing the analyst consensus estimate of $2.212 billion.
Total expenses rose to $1.47 billion from $1.33 billion in the year-earlier period.
Operating income increased to $1.21 billion from $878 million a year earlier.
Core funds from operations rose to $1.50 per share from $1.42 a year earlier, beating the consensus estimate of $1.49. Earnings per share increased to $1.05 from $0.63 in the prior-year quarter.
Operating Metrics And Leasing Activity
Prologis reported strong operating metrics, with owned and managed average occupancy at 95.3% and Prologis share average occupancy at 95.4% at …