On July 17, Prologis rose 3.57% in regular trading, trading at $148.7/share, with turnover of approximately $300 million. The rally was driven by the company's stronger-than-expected Q2 earnings released after the prior session's close.

Prologis reported Q2 core funds from operations of $1.63 per diluted share, up 11.6% year-over-year and well above the FactSet consensus estimate of $1.55. Revenue came in at $2.43 billion, representing 11.5% year-over-year growth and exceeding the analyst estimate of $2.16 billion. The company simultaneously raised its full-year core FFO guidance to a range of $6.22 to $6.30 per share, up from the prior range of $6.12 to $6.28, surpassing the Street consensus of $6.18.

This marks the second consecutive quarter of guidance increases, following a similar upward revision in Q1. The broad-based beat reflects robust logistics real estate demand recovery and strong rental growth momentum across Prologis' global portfolio of approximately 1.2 billion square feet spanning 20 countries.

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