Prologis Inc

PLD: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$347.00	Mqxrb	Mmjsbrfl

Prologis Continues to Benefit From Robust Demand for Industrial Space; Maintaining Our $143 FVE

Kevin Brown

Jul 18, 2022

No-moat-rated Prologis reported strong second-quarter results as its funds from operations, or FFO, of $1.11 per share was 9.9% higher than the $1.01 in FFO during the second quarter of 2021. The company continues to benefit from buoyant demand for industrial space with second-quarter results largely in line with our expectations. Management has slightly increased its full-year core FFO guidance by 60 basis points and same store NOI guidance by around 90 basis points. After incorporating the company's second-quarter results, we are maintaining our $143 per share fair value estimate for Prologis.

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