shares of prologis inc pld rallied 17 toward a fifth straight gain friday after the real estate investment trust focused leasing logistics facilities reported thirdquarter earnings that rose above expectations and boosted its fullyear outlook amid record increases in market rents and valuations net income more than doubled to 7220 million or 97 cents a share from 2987 million or 40 cents a share in the yearago period core funds from operations per share increased to 104 from 90 cents beating the factset consensus of 103 total revenue rose 93 to 118 billion above the factset consensus of 104 billion average occupancy was 966 up from 960 in the second quarter and with 980 of property leased as of sept 30 cash rent change was up 129 with cash samestore net operating income grew 67 for 2021 the company raised its core ffo guidance range to 411 to 413 from 404 to 408 compared with the factset consensus of 407 our third quarter results were underpinned by record increases in market rents and valuations said chief executive hamid moghadam with vacancies at unprecedented lows space in our markets is effectively sold out the stock has rallied 362 year to date through thursday while the spdr real estate select sector etf xlre has advanced 263 and the sp 500 spx has gained 168