Industrial : Three reports, three "beat and raises." Prologis ( PLD ) kicked off REIT earnings season on Tuesday by boosting its 2021 guidance across all metrics. PLD now sees its cash same-store NOI rising 4.75% for 2021, up from 4.0% previously. Rexford ( REXR ) and First Industrial ( FR ) each reported similarly strong results on Wednesday, boosting their full-year same-store NOI outlook by 75 basis points and 50 basis points, respectively. Prologis CEO Hamid Moghadam commented that demand is as "strong as I have seen in my career" as the coronavirus pandemic has exposed the fragility of global supply chains and businesses scramble to invest in logistics resiliency.