Prologis reported solid performance in Q3 2025, with growth in rental and strategic capital revenues, alongside continued development activity. The company maintained strong occupancy and demonstrated resilience in its core logistics real estate operations.
Total revenues increased to $2,214 million from $2,036 million in Q3 2024.
positiveCore FFO per share increased to $1.49 from $1.43 in the prior year.
positiveAverage occupancy for the owned and managed portfolio remained strong at 95.3%.
positiveDevelopment starts for the nine months ended September 30, 2025, reached $2,012,938 thousand.
positiveNet earnings attributable to common stockholders decreased to $763 million from $1,004 million in Q3 2024.
negativeSame store NOI - net effective growth for Prologis Share decreased to 3.9% from 5.2% in the prior year.
attentionNet Promote Income (Expense) for 2025 is guided to be negative ($50 million) due to amortization of stock compensation.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Prologis continues to lead in logistics real estate with a focus on high-barrier, high-growth markets.
The company owns or has investments in approximately 1.3 billion square feet of properties and development projects in 20 countries.
Leases modern logistics facilities to approximately 6,500 customers, primarily in business-to-business and retail/online fulfillment.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.