Prologis (PLD.N) shares rise 3% to $143.96 and hit new 1-yr highs on Thurs after warehouse REIT tops qtrly expectations and raises annual core FFO forecast, citing strong demand
PLD stock surpasses previous 52-week intraday high of $143.95 reached on Feb 27 San Francisco, California-based firm reported Q1 rev of $2.3 bln and core FFO of $1.50/sh, both beating analysts’ expectations, per LSEG data
Co now expects full-year adj core FFO/sh between $6.07-$6.23, with midpoint a penny above consensus of $6.14, on resilient leasing and data center growth
Baird, which has ‘neutral’ rating on PLD, says beat-and-raise signals co’s confidence in improving demand trends of the past two qrts, despite recent heightened geopolitical uncertainty
Of 25 brokerages covering the stock, recommendation breakdown is 15 “strong buy” or “buy”, 10 “hold”; median PT $140
With move on the session, PLD stock up 12.7% YTD and outperforming S&amp;P 500 Real Estate index’s (.SPLRCR) 9% advance (Lance Tupper is a Reuters market analyst. The views expressed are his own)

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BUZZ-Warehouse REIT Prologis climbs after beat-and-raise report