Core Insights - Prologis, Inc. is the world's largest industrial real estate company with a market cap of $97.2 billion, focusing on logistics and distribution properties [1] Financial Performance - Prologis reported a third-quarter EPS of $0.82 and core FFO of $1.49, reflecting a year-over-year increase of 4.2% [4] - Total revenue for the quarter surged 8.7% year over year to $2.2 billion [4] - Analysts expect Prologis to report an FFO of $5.80 for the fiscal year ending December 2025, indicating a growth of 4.3% YoY [5] Market Performance - Prologis shares have increased 8.2% over the past year and 14.1% in 2025, although this is below the S&P 500 Index's gains of 17.5% and 15.6% respectively [2] - The Real Estate Select Sector SPDR ETF (XLRE) has declined 6.6% over the past year, highlighting Prologis as an outperformer in a sluggish real estate market [3] Leasing and Occupancy - Occupancy rates for Prologis rose to 95.3%, with same-store net operating income increasing by 3.9% on a net effective basis and 5.2% on a cash basis [4] - Record leasing activity was noted with signings totaling 62 million square feet, and rental growth showed a net effective rent change near 49% and cash rent change around 29% [4] Analyst Ratings - The consensus rating for Prologis among 25 analysts is a "Moderate Buy," with 14 "Strong Buys," two "Moderate Buys," and nine "Hold" ratings [5] - The current analyst configuration is more bullish compared to two months ago, when only 13 analysts recommended a "Strong Buy" [6]