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Investing.com -- Prologis (NYSE:PLD) reported first-quarter earnings that were in line with expectations, while revenue topped estimates. Guidance for the full fiscal 2025 was maintained.
The company’s shares climbed 1% in premarket trading Wednesday.
The Warehouse-focused real estate investment trust (REIT) posted earnings per share (EPS) of 63 cents, matching the average analyst forecast.
Revenue for the quarter stood at $2.14 billion, slightly above the $2.12 billion consensus.
Prologis reported core funds from operations (FFO) per share of $1.42 for the quarter.
Occupancy for the period was 94.9%, missing the 95.3% estimate.
"In the near term, policy uncertainty is making customers more cautious. But over the long term, limited new supply and high construction costs support continued rent growth. We’re confident in the strength and resilience of our business," said Hamid R. Moghadam, co-founder and CEO of Prologis.
Prologis reaffirmed its full-year 2025 guidance, keeping its outlook unchanged across key metrics.
The company continues to expect net earnings attributable to common stockholders between $3.45 and $3.70 per share. Core FFO are projected to range from $5.65 to $5.81 per share.
Average occupancy for the year is forecast to remain between 94.5% and 95.5%.