SAN FRANCISCO—Industrial giant Prologis Inc. on Tuesday posted second-quarter results that beat analysts’ estimates. The REIT reported core funds from operations of 48 cents per share, compared to the Zacks Consensus Estimate of 46 cents per share and Q2 2013′s figure of 41 cents per share. Its same-store NOI was up 3.8% from a year ago on the strength of higher occupancy and rental rates.

Occupancy as Q2 ended was up 90 basis points year over year to 94.6%. With 29 million square feet of leases signed during the quarter, Prologis saw GAAP rental rates increase by 6.6%, compared to 4% the year prior.

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