Prologis Inc. (PLD), the global leader in logistics real estate, reported impressive fourth-quarter and full-year 2024 results, driving its stock up 5.1% in pre-market trading on Tuesday.

The company's strong performance was fueled by robust leasing activity following the U.S. presidential election, reflecting the growing demand for logistics facilities amid the e-commerce boom and global supply chain dynamics.

For the fourth quarter, Prologis reported:

• Core Funds From Operations (Core FFO) of $1.50 per diluted share, surpassing analysts' estimates of $1.38 and marking a 19% year-over-year increase.
• Net earnings attributable to common stockholders of $1.28 billion, or $1.37 per diluted share, up 101.5% from the previous year.
• Total revenues of $2.2 billion, beating consensus estimates of $1.94 billion.

The solid results were driven by robust leasing activity, as evidenced by the company's high occupancy rate of 95.6% and strong rent growth. Net effective rent change for the quarter stood at an impressive 66.3%, reflecting the strong demand for Prologis' logistics facilities.

Looking ahead, Prologis provided an optimistic outlook for 2025, forecasting Core FFO in the range of $5.65 to $5.81 per diluted share, with average occupancy expected to remain high at 94.5% to 95.5%.

Hamid R. Moghadam, Prologis' co-founder and CEO, commented, "Post-election leasing activity has been strong, and our ongoing conversations with customers support our expectation that the market is nearing an inflection point. Meanwhile, our platform is uniquely positioned to seize the opportunities created by favorable trends in our data center and energy businesses."