By Micah Maidenberg 



  Prologis Inc. surpassed second-quarter expectations for a key profit metric, as the warehouse and logistic real estate company benefited from rising consumer usage of e-commerce platforms amid the Covid-19 pandemic. 


  Overall, the warehouse owner reported a profit attributable to common shareholders of $404.5 million, or 54 cents a share, compared with $383.8 million, 60 cents a share, the year earlier. 


  Prologis on Tuesday reported funds from operations, after adjustments, of $1.11 a share, a performance that was up from 77 cents a share for the second quarter last year and beat the 99 cents a share that analysts polled by FactSet predicted for the latest period. 


  Occupancies stood at 95.7% at the end of the second quarter in its owned and managed property portfolio. Rentetions increased from the first quarter and net effective rents grew 22%. 


  "While e-commerce is clearly a tailwind, demand is broad-based across a variety of categories--a trend we saw accelerate in June," Chief Executive Hamid Moghadam said in a statement. 


  Rental and other revenue grew to $945 million from $701 million, surpassing forecasts that expected $896 million in revenue. 


  Write to Micah Maidenberg at micah.maidenberg@wsj.com