Prologis (PLD) Below-Market Lease Liabilities (2014 - 2025)
Prologis (PLD) posted Below-Market Lease Liabilities of $1.44 billion for Q4 2025, down 19.2% from $1.78 billion a year earlier.
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Analysis
Prologis (PLD) Below-Market Lease Liabilities (2014 - 2025) Analysis & Trends
Since Q4 2014, Prologis has reported Below-Market Lease Liabilities for 12 quarters.
- Annual Below-Market Lease Liabilities has declined for three consecutive years, though with a five-year compound annual growth rate of 48.7% (FY2020 to FY2025).
- In prior years, Prologis' Below-Market Lease Liabilities was $1.78 billion in FY2024 (-19.4%), $2.21 billion in FY2023 (-7.0%), $2.37 billion in FY2022 and $198.89 million in FY2021 (+0.5%).
- The Q4 2025 figure stands as the lowest quarterly Below-Market Lease Liabilities since Q4 2021.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Below-Market Lease Liabilities (Qtr) |
|---|---|---|---|---|---|
| 1 | Welltower | 179.03 Bn | 165.05 Bn | 1.47 Bn | - |
| 2 | Prologis | 123.12 Bn | 117.08 Bn | - | - |
| 3 | Simon Property | 75.49 Bn | 71.55 Bn | - | - |
| 4 | Public Storage | 62.37 Bn | 61.09 Bn | - | - |
| 5 | Realty Income | 56.23 Bn | 54.51 Bn | - | 1.46 Bn |
| 6 | Ventas | 46.05 Bn | 44.73 Bn | - | - |
| 7 | Extra Space Storage | 33.71 Bn | 32.62 Bn | 650.96 Mn | - |
| 8 | Vici Properties | 27.71 Bn | 26.06 Bn | 1.06 Bn | - |
| 9 | Vivmark Residential | 24.79 Bn | 24.57 Bn | - | - |
| 10 | Essex Property Trust | 17.73 Bn | 17.49 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 1.44 Bn |
| Dec 31, 2024 | 1.78 Bn |
| Dec 31, 2023 | 2.21 Bn |
| Dec 31, 2022 | 2.37 Bn |
| Dec 31, 2021 | 198.89 Mn |
| Dec 31, 2020 | 197.81 Mn |
| Dec 31, 2019 | 58.53 Mn |
| Dec 31, 2018 | 76.09 Mn |
| Dec 31, 2017 | 24.77 Mn |
| Dec 31, 2016 | 31.71 Mn |
| Dec 31, 2015 | 55.98 Mn |
| Dec 31, 2014 | 30.65 Mn |
API Access
Prologis Below-Market Lease Liabilities API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=below-market-lease-liabilities&ticker=PLD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "below-market-lease-liabilities", "ticker": "PLD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=below-market-lease-liabilities&ticker=PLD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();