Prologis, Inc. reported strong first-quarter 2022 results, achieving core funds from operations (FFO) of $1.09 per share, surpassing analysts' expectations of $1.08. The company recorded total revenues of $1.2 billion, representing a 9% increase from $1.1 billion in the same quarter last year, despite slightly missing the rental revenue estimate. With an impressive average occupancy rate of 97.4% and a significant cash same-store net operating income growth of 8.7%, Prologis raised its core FFO guidance for the year, underscoring its optimism in a robust market.
“Prologis, Inc. · reported · core funds from operations (FFO) per share · $1.09”
“Prologis, Inc. · beating · Zacks Consensus Estimate · $1.08”
“Prologis, Inc. · compares favorably with · year-ago quarter’s figure · 97 cents”
“Prologis · generated rental revenues of · $1.076 billion · up from $1.021 billion”
“Prologis · missed · Zacks Consensus Estimate · $1.087 billion”
“Prologis · recorded total revenues of · $1.2 billion · up from $1.1 billion”
“Prologis · average occupancy level in owned and managed portfolio · 97.4% · in the first quarter”
“Prologis · owned and managed portfolio was · 98.1% leased · as of Mar 31, 2022”
“Prologis · share of net effective rent change · 37.0% · in January-March quarter”
“Prologis · cash same-store net operating income (NOI) grew · 8.7% · led by the United States at 9.7%”
“Prologis · exited with cash and cash equivalents of · $1.9 billion · up from $556.1 million”
“Prologis · expected average occupancy · in the band of 96.75-97.50% · up 12.5 basis points at the midpoint”