Prologis Inc (NYSE:PLD) stock fell 0.40% (As on October 16, 11:24:49 AM UTC-4, Source: Google Finance) after the company posted mixed result for the third quarter of FY25. In the quarter, 65.6 million square feet of leases commenced in the company’s owned and managed portfolio. The retention level was 77.2% in the quarter. The average occupancy level in Prologis’ owned and managed portfolio was 94.8% in the third quarter, down from the prior quarter’s 94.9% and the year-ago period’s 95.9%. Prologis’ share of net effective rent change was 49.4% in the July-September quarter. In the reported quarter, the cash rent change was 29.4%. Cash same-store net operating income (NOI) grew 5.2% compared to 4.9% in the previous quarter. The company’s share of building acquisitions amounted to $48 million, with a weighted average stabilized cap rate (excluding other real estate) of 6.2% in the third quarter. Development stabilization aggregated $604 million, with 23.4% being built to suit, while development starts totaled $446 million, with 63.9% being built to suit. PLD’s total dispositions and contributions were $71 million, with a weighted average stabilized cap rate (excluding land and other real estate) of 5.4%.

PLD in the third quarter of FY25 has reported the adjusted funds from operations (FFO) per share of $1.49, beating the analysts’ estimates for the adjusted FFO per share of $1.44, according to the Zacks Consensus Estimate. The company had reported the rental revenue of $2.05 billion in the third quarter of FY25, missing the analysts’ estimates for revenue of $2.10 billion. Total revenues were $2.21 billion, up from the year-ago quarter’s $2.04 billion.

Additionally, Prologis exited the third quarter of 2025 with cash and cash equivalents of $1.19 billion, up from $1.07 billion at the end of the second quarter of 2025. Total liquidity amounted to $7.5 billion at the end of the quarter. Debt, as a percentage of the total market capitalization, was 26.5% as of Sept. 30, 2025. The company’s weighted average interest rate on its share of the total debt was 3.2%, with a weighted average term of 8.3 years. Prologis and its co-investment ventures issued an aggregate of $2.3 billion of debt in the reported quarter at a weighted average interest rate of 4.2% and a weighted average term of 5.7 years.

Prologis increased its 2025 core FFO per share guidance to the range of $5.78-$5.81 from the $5.75-$5.80 range guided earlier. The Zacks Consensus Estimate for the same is currently pegged at $5.77.