Prologis Inc

Strong Performance in Q1 2025: Prologis reported a core FFO of $1.42 per share, exceeding expectations, with occupancy at 95.2%, decreasing by 70 basis points from year-end due primarily to strong tenant retention. They leased 58 million square feet during the quarter and observed net effective rent changes of 54%, with cash basis rents up 32%.

Guidance and Financial Metrics: The company maintains its core FFO guidance range at $5.65 to $5.81 per share, with expectations on cash same-store growth at around 5.9% to 6.2%. However, their capital deployment guidance has been reduced to $1.5 billion to $2 billion, reflecting uncertainties around market conditions.

Market Challenges: Despite overall good performance, Prologis noted concerns surrounding global tariffs that may disrupt logistics and supply chain operations. They highlighted uncertainty in decision-making among customers, which has the potential to slow future growth and affect occupancy rates through the year.