PLD · Prologis, Inc.
$139.95
-0.75 (-0.53%)
At close · Aug 31
View the 10-K filed Feb 13, 2026
Customer concentration
— top 10 customers 16.3% of revenue
10 customers — 16.3% of revenue (At December 31, 2025)
“At December 31, 2025, our top 10 customers accounted for 16.3% of our consolidated NER and 15.2% of our O&M NER.”
10 customers — 15.2% of revenue (At December 31, 2025)
“At December 31, 2025, our top 10 customers accounted for 16.3% of our consolidated NER and 15.2% of our O&M NER.”
Market Cap
$131.18B
Shares
932.34M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$140.70
Open$142.38
Day$140.41–142.44
52W close$110.95–150.06
Avg vol 30d4.5M
Short int15.7M · 1.7% float · 2.7d
Short vol42%
Last earningsJul 16, 2026
DataJan 2020–Aug 2026
Filing10-Q · Jul 29
Up next
Next earnings call
Oct 15, 2026
Est · unconfirmed
· in 6 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed Jul 29, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Buy
SellHoldBuy
Technical
Buy
Momentum
Neutral
Sentiment
Bullish
Fundamentals
Weak
Quant / Vol
Very Low
Market backdrop
VIX 14.4 · calm
Equity put/call 0.62
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
+3%
above
Price vs 50-day avg
−1%
below
RSI (14)
45
neutral
MACD trend
Positive
52-week position
76%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−3%
trailing
6-month return
+4%
trailing
YTD return
+10%
this year
Relative strength
−9%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $142 › 200d $137 — 50d above 200d
Institutional flow
Accumulating
+2% holders QoQ · +160 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
1.69% of float · ▼ -13.3% MoM · 2.7 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
1,729 holders — near 3-yr high, broad support
Squeeze score
39
low risk · 0–100
Fundamentals
Revenue growth
+7%
Y/Y
EPS growth
−11%
Y/Y
Valuation
P/E 35.4
rich
Buyback
$1.0B
authorized
Balance sheet
$9.0B
net debt
Quant / Vol
risk profile
Volatility
22%
annualized · 1-yr
Max drawdown
−10%
past year
ATR
1.7%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Jul 16, 2026
2026 Guidance
Same store NOI - cash - Prologis Share
Non-GAAP
6.75% – 7.25%
annual
Core FFO attributable to common stockholders/unitholders
Non-GAAP
$6.22 – $6.30
Core FFO attributable to common stockholders/unitholders, exclud
Non-GAAP
$6.22 – $6.30
2026
Average occupancy
95.25% – 95.75%
Cash Same Store NOI
Non-GAAP
6.75% – 7.25%
Prior guidance
period ended
· from the 8-K filed Oct 15, 2025
Average occupancy - Prologis Share
· 2025 Guidance
94.75% – 95.25%
Strategic capital revenue, excluding promote revenue
· 2025 Guidance
$580M – $590M
General & administrative expenses
· 2025 Guidance
$460M – $470M
Realized development gains
· 2025 Guidance
$150M – $250M
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Buy
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
+3%
Bullish
Price vs 50-day avg
−1%
Neutral
RSI (14)
45
Neutral
MACD trend
Positive
Bullish
52-week position
76%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bullish · 3 of 6
Trend (MA cross)
No cross
50d $142 › 200d $137 — 50d above 200d
Institutional flow
Accumulating
+2% holders QoQ · +160 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
1.69% of float · ▼ -13.3% MoM · 2.7 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
1,729 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $111
Now $141 · 76%
Range high $150
vs 200-day avg +3%
vs 50-day avg -1%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Rent change on rollover (NER) on Prologis share of O&M portfolio | 36.9% | the three months ended June 30, 2026 filing | — |
| Acquisitions | $1.12B | 2Q26 | — |
| Adjusted EBITDA attributable to common stockholders/unitholders non-GAAP | $4.32B | Six Months Ended June 30, 2026 | — |
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| Adjusted EBITDA-annualized non-GAAP | $8.59B | Q2 FY2026 | — |
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| AFFO attributable to common stockholders/unitholders non-GAAP | 2.79B | Six Months Ended June 30, 2026 | — |
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| Average Occupancy | 95% | 2Q26 | — |
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| Build Out of Land (TEI) non-GAAP | $40.6B | As of Q2 2026 | — |
| Buildings | 5,929 | As of June 30, 2026 | — |
| Cash Rent Change | 22.3% | 2Q26 | — |
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| Cash Same Store NOI non-GAAP | 8.5% | 2Q26 | — |
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| Core FFO attributable to common stockholders/unitholders non-GAAP | 3B | Six Months Ended June 30, 2026 | — |
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| Core FFO, excluding Net Promote Income (Expense)* per diluted share non-GAAP | $1.6 | Second quarter 2026 | — |
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| Data Center Power Pipeline | 5.8 | 2Q26 | — |
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| Debt as a % of gross Market Capitalization | 23.9% | Q2 FY2026 | — |
| Debt as a % of gross real estate assets | 35.7% | Q2 FY2026 | — |
| Development Stabilizations | $646M | 2Q26 | — |
| Development Starts | $1.34B | 2Q26 | — |
| Estimated value creation from development stabilizations - Prologis Share non-GAAP | $477M | Six Months Ended June 30, 2026 | — |
| Estimated value creation from stabilizations non-GAAP | $740M | Q2 2026 | — |
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| Fee Related Earnings non-GAAP | $63.64M | Q2 FY2026 | — |
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| G&A as % of Assets Under Management non-GAAP | 0.28% | Q2 FY2026 | — |
| G&A as % of gross book value at period end non-GAAP | 0.4% | Q2 FY2026 | — |
| Gross AUM | $240B | Q2 2026 | — |
| Lease Proposals non-GAAP | 129M | Q2 2026 | — |
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| Leases Commenced (Operating and Development Portfolio) | 61.7 | 2Q26 | — |
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| Market Equity | $129B | Q2 2026 | — |
| Net Effective Rent Change | 36.9% | 2Q26 | — |
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| New Lease Negotiation Gestation non-GAAP | 60.1 | Q2 2026 | — |
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| Period End Occupancy | 95.5% | 2Q26 | — |
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| Prologis Share of Same Store Property NOI - Cash (b)(c) non-GAAP | $1.56B | Three Months Ended Jun. 30, 2026 | — |
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| Prologis Share of Same Store Property NOI - Net Effective (b) non-GAAP | $1.69B | Three Months Ended Jun. 30, 2026 | — |
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| Retention | 72.7% | 2Q26 | — |
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| Same store change over prior year - Prologis Share non-GAAP | 30.4% | Q2 2026 | — |
| Secured debt as a % of gross real estate assets | 0.4% | Q2 FY2026 | — |
| Signed over 67 million square feet of leases | 67M | Second quarter 2026 | — |
| Square Feet | 1.3B | As of June 30, 2026 | — |
| Strategic Capital fees and promotes | $412M | Q2 2026 | — |
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| Total Dispositions and Contributions | $1.01B | 2Q26 | — |
| Total gross book value at period end (a) | $167.31B | June 30, 2026 | — |
| Total value of Assets Under Management | $239.79B | Q2 FY2026 | — |
| U.S. Space Utilization non-GAAP | 84.4% | Q2 2026 | — |
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| Unencumbered gross real estate assets to unsecured debt | 267% | Q2 FY2026 | — |
| Weighted avg stabilized cap rate (excluding land, properties under development, and other real e | 5.1% | 2Q26 | — |
| Weighted avg stabilized cap rate (excluding other real estate) | 4.1% | 2Q26 | — |
| Total available liquidity | $6.7B | 1Q26 | — |
| Total Square Feet of Leases Commenced | 66.72M | Q1 2026 | — |
| % Build-to-suit - Development Stabilizations | 37.5% | 4Q25 | — |
| % Build-to-suit - Development Starts | 47.9% | 4Q25 | — |
| Acquisitions (Prologis Share) | $517M | 4Q25 | — |
| Adjusted EBITDA non-GAAP | $2B | Q4 2025 | — |
| Cash Rent Change (Prologis Share) | 27.3% | 4Q25 | — |
| Common stock and limited partnership units outstanding | 950.91M | as of Dec. 31, 2025 | — |
| Core FFO attributable to common stockholders/unitholders - Diluted non-GAAP | $5.56B | Twelve Months Ended Dec. 31, 2025 | — |
GAAP → non-GAAP reconciliationGAAP Core FFO attributable to common stockholders/unitholders 5.56B
+1.03M Noncontrolling interest attributable to exchangeable limited partnership units
= Core FFO attributable to common stockholders/unitholders - Diluted 5.56B
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| Core FFO per share - Diluted non-GAAP | $5.81 | Twelve Months Ended Dec. 31, 2025 | — |
| Debt as a percentage of total market capitalization | 24.6% | As of 4Q25 quarter-end | — |
| Development management revenue non-GAAP | $38.87M | Trailing twelve months ended Dec. 31, 2025 | — |
| Development Stabilizations (Prologis Share) | $539M | 4Q25 | — |
| Development Starts (Prologis Share) | $1.02B | 4Q25 | — |
| Estimated value creation - Development Stabilizations | $95M | 4Q25 | — |
| Estimated value creation - Development Starts | $207M | 4Q25 | — |
| Estimated weighted avg margin - Development Stabilizations | 17.6% | 4Q25 | — |
| Estimated weighted avg margin - Development Starts | 20.3% | 4Q25 | — |
| Estimated weighted avg yield - Development Stabilizations | 6.4% | 4Q25 | — |
| Estimated weighted avg yield - Development Starts | 6.1% | 4Q25 | — |
| Fourth Quarter Adjusted Cash NOI (Actual) non-GAAP | $1.33B | Q4 2025 | — |
| IBI Activity Index | 55.3 | Q4 2025 | — |
| Leases signed | 228M | full year 2025 | — |
| Leverage ratio | 31.9% | As of Dec. 31, 2025 | — |
| Net Effective Rent Change (Prologis Share) | 43.8% | 4Q25 | — |
| Net Promote Income (Expense) non-GAAP | -$12.36M | Q4 2025 | — |
| Net Promote Income (Expense) five year average non-GAAP | $190.15M | Five year average as of Dec. 31, 2025 | — |
| Net Promote Income (Expense) trailing twelve months non-GAAP | -$48.96M | Trailing twelve months ended Dec. 31, 2025 | — |
| NOI - cash change - Prologis Share non-GAAP | 5.7% | Q4 2025 | — |
| Number of customers | 6,500 | As of December 31, 2025 | — |
| Operating Portfolio Percent Leased | 95.6% | Q4 2025 | — |
| Period ending occupancy | 95.8% | Q4 2025 | — |
| Prologis Share of NOI of the Operating Portfolio (annualized) non-GAAP | $6.7B | Q4 2025 | — |
| Rent change (net effective) - Prologis Share | 43.8% | Q4 2025 | — |
| Retention (Owned & Managed) | 77.7% | 4Q25 | — |
| Strategic Capital fees and promotes (trailing twelve months) non-GAAP | $358M | Q4 2025 | — |
| Total Development Portfolio Square Feet | 25.4M | Q4 2025 | — |
| Total Dispositions and Contributions (Prologis Share) | $1.89B | 4Q25 | — |
| Total Operating Portfolio Square Feet | 773.18M | Q4 2025 | — |
| Total Prologis Share of debt, net of adjustments | $39.51B | Dec. 31, 2025 | — |
| Total Prologis Share of gross real estate assets | $110.76B | Dec. 31, 2025 | — |
| Unencumbered asset to unsecured debt ratio | 282.5% | As of Dec. 31, 2025 | — |
| Weighted average interest rate on company's share of total debt | 3.3% | As of 4Q25 quarter-end | — |
| Weighted average term of debt | 8.2 | As of 4Q25 quarter-end | — |
| Weighted avg stabilized cap rate (excluding land and other real estate) - Dispositions | 5% | 4Q25 | — |
| Weighted avg stabilized cap rate (excluding other real estate) - Acquisitions | 5.2% | 4Q25 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Industrial — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
PLD
this stock
Prologis, Inc.
|
$131.18B | +10.2% | +7.2% | 35.4 | 1.7% |
|
PSA
Public Storage
|
$55.06B | +20.8% | +2.7% | 29.9 | 3.0% |
|
EXR
Extra Space Storage Inc.
|
$30.19B | +9.7% | +3.7% | 31.6 | 2.3% |
|
EGP
Eastgroup Properties Inc
|
$10.75B | +12.3% | +12.7% | 35.1 | 3.9% |
|
CUBE
CubeSmart
|
$9.06B | +11.0% | +5.3% | 28.0 | 3.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Earnings & Events
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| PLD | -0.8% | -2.7% | +4.1% | -2.7% | +10.2% |
| SPY | +0.5% | +3.0% | +13.4% | +3.0% | +12.8% |
| vs SPY | -1.3% | -5.7% | -9.3% | -5.7% | -2.6% |
Capital returns
Latest dividend
$1.07
/ share · ex Jun 16, 2026
Paid (TTM)
$4.16
/ share · 4 payouts
Dividend yield (TTM, derived)
2.96%
Buyback program
· as of Dec 31, 2025
Authorized
$1.00B
Spent (derived)
—
Remaining
—
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1045609
CUSIP
74340W103
13F (30d)
1109 filings
1029 filers
Visit website
Investor relations