Shares of Prologis (PLD), a leading industrial real estate investment trust, surged 5.21% in pre-market trading following the release of its second-quarter earnings report. The company's strong performance and optimistic outlook have sparked investor enthusiasm.
Prologis reported second-quarter core funds from operations (FFO) of $1.46 per share, surpassing analysts' expectations of $1.41. The company's adjusted EBITDA for the quarter reached $1,789 million, significantly exceeding the IBES estimate of $1,613 million. While the earnings per share (EPS) of $0.61 fell slightly short of the $0.63 estimate, investors seemed to focus on the overall positive results.
Adding to the bullish sentiment, Prologis raised its full-year 2025 guidance for core FFO to a range of $5.75 to $5.80 per share, up from the previous forecast of $5.65 to $5.81. This upward revision reflects the company's confidence in its business outlook. Moreover, Prologis reported that its leasing pipeline has reached historically high levels, indicating a rebound in warehouse demand. President Daniel Letter stated, "We expect further expansion of Prologis' leasing pipeline, which could signal a recovery in demand if economic growth accelerates." This positive trend in the industrial real estate sector appears to be driving investor optimism and contributing to the stock's significant pre-market rally.
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