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%.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
