By Will Feuer
Prologis Inc. forecasted continued growth in 2022, saying that demand remains strong for its portfolio of logistics and supply-chain real estate.
The San Francisco-based industrial landlord, a real-estate investment trust, on Wednesday said it expects net earnings for the full-year 2022 to be between $4.40 a share and $4.55 a share. The company posted net earnings of $3.94 a share for 2021.
Prologis expects to log core funds from operations of between $5 a share and $5.10 a share for the full-year 2022, the company said, compared with $4.15 share for 2021.
"Demand for our 1 billion square foot global portfolio shows no signs of slowing and we are positioned ideally to meet our customers' most critical real estate needs," said Prologis Chief Executive Hamid Moghadam.
The company said it expects to see average occupancy of between 96.5% and 97.5% in 2022. The company said average occupancy was 97.4% in the fourth quarter.
"While 2021 was a year of many records, most of the benefit from the current environment will be realized in the future," said Prologis Chief Financial Officer Thomas Olinger.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires