Prologis Inc reported record leasing activity of 67 million square feet in the second quarter of 2026 and raised its full-year core FFO guidance to a range of $622 to $630 per share. Core FFO came in at $1.63 per share including net promote income, or $1.60 per share without, while promote revenue reached $83 million. Occupancy improved 20 basis points sequentially to 95.5%, and rent change on rollover exceeded 36% on a net effective basis and 22% on a cash basis. The company started $1.6 billion in new development projects, acquired $1.8 billion of real estate at an estimated 20% discount to replacement cost, and completed $800 million in dispositions. Data center development reached $2.1 billion year-to-date, already exceeding full-year guidance, and the power pipeline expanded to approximately 5.8 gigawatts. Prologis also provided net earnings guidance of $440 to $455 per share and expects average occupancy between 95.25% and 95.75%.
Prologis IncRecord leasing, raised core FFO guidance, strong development and acquisition activity.