The financial news from Prologis about its second quarter of 2023 was largely glowing, and one of the important reasons was a strong performance on rents.
Net diluted earnings per share hit $1.31 compared to $0.82 for the second quarter of 2022, a 60% increase. The company upped its 2023 guidance from between $3.10 and $3.25 net earnings per diluted share for the year to $3.30 to $3.40, a 5.5% increase.
Expected average occupancy remained at 97% to 97.5% while cash same store NOI went from a 9% to 9.75% range to 9.5% to 10%.
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