Prologis (NYSE:PLD) saw a boost of more than 4% in its shares intra-day today following the release of its third-quarter earnings, which surpassed analysts’ predictions. For the third quarter, Prologis reported an EPS of $1.45, more than double the projected $0.66. Revenue also outpaced forecasts, reaching $2.04 billion against an anticipated $1.91 billion. Core Funds From Operations (FFO) per share, a key measure of profitability for real estate investment trusts, came in at $1.43, exceeding the $1.38 analysts had expected.

Occupancy rates were slightly below expectations at 95.9%, with analysts projecting 96.3%. Despite this minor dip, the company’s overall performance remained strong and pointed to solid fundamentals in its asset management strategy.

Looking forward, Prologis offered an optimistic forecast for the fiscal 2024, projecting an EPS range of $3.35 to $3.45—well above the Street estimate of $2.78. The company also expects Core FFO per share attributable to common stockholders and unitholders to be between $5.42 and $5.46.