Prologis Q1 Core FFO +10.9% to $1.42; slashes 2025 development/disposition guidance

Prologis, Inc.

2025-Q1 EPS reported $0.63 revenue$2,139,665,000

Core FFO per share $1.42 (+10.9% YoY); net earnings $0.63 per share unchanged.
Cash Same Store NOI grew 6.2%; Net Effective Rent Change +53.7%.
2025 development stabilizations guidance cut to $1.9-2.3B from $2.25-2.75B; starts cut to $1.5-2.0B from $2.25-2.75B.
Contribution guidance slashed to $150-500M from $1.5-2.0B; dispositions cut to $250-500M from $1.0-1.5B.
Realized development gains guidance lowered to $100-250M from $450-600M; G&A guidance raised to $450-470M from $440-460M.

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