Prologis 2Q 2021

Prologis (PLD) reported strong 2Q numbers, including a 2021 FFOSP midpoint increase to $4.06 that implies 7% y/y growth or a 40% gain vs the previous 5% forecast.

Results include a 10% gain in development starts and 14% more acquisitions, plus a 26% increase in dispositions. Same store NOI growth was 5.8% on a cash basis and 6.1% on a net effective basis. Same store occupancy is up 40 bps to 95.9%

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