Prologis has announced its financial results for the second quarter of 2017. It’s net earnings per diluted share was $0.50, down from $0.52 in the same period in 2016.
It’s occupancy rate at the end of the quarter was 96.2%, down from 96.6% in the previous period (96.1% in Q2 of 2016). Net effective rent growth was 24.0%, up from 17.8% in the corresponding period in 2016. In the US, the figure stood at 29%.
Hamid R. Moghadam, chairman and CEO of Prologis, said: “Our second quarter results were excellent and reflect record rent increases and higher earnings from our strategic capital business. Market rent growth surprised us to the upside, and the mark-to-market of our portfolio increased to 13% percent globally, which positions us for strong operating performance for the next several years.”
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