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.”
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Prologis, Inc. entered a new equity distribution agreement on October 30, 2026, replacing its existing “at-the-market” program and allowing common stock sales with an aggregate offering price of up to $5,000,000,000.
Prologis agreed on August 4, 2026 to acquire SEGRO, expected to complete in the first half of 2027. Operating portfolio occupancy was 95.5% at September 30, 2026.
Prologis reported third-quarter core FFO of $1.60 per share, 95.6% occupancy and 5.7 percent net-effective same-store NOI growth. Seagro shareholders overwhelmingly approved the combination with Prologis, which is expected to close in the first half of 2027.
Prologis reported third quarter 2026 net earnings attributable to common stockholders of $815,734 and Core FFO attributable to common stockholders/unitholders of $1,544,573, in thousands; 2026 Core FFO guidance is $6.25 to $6.29 per share.
Useful current figures from the complete screener profile.
TL;DR. Prologis raised 2026 same-store NOI, development starts, and acquisitions guidance, but lowered net earnings guidance, narrowed occupancy guidance lower, trimmed strategic capital revenue, and reduced dispositions and contributions guidance amid a more cautious capital markets backdrop.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Illustrative technical + ownership context — a signal mix, not investment advice.
| Metric | Latest | Period | YoY |
|---|---|---|---|
| % Build-to-suit (Development Stabilizations) | 17.5% | Q3 2026 | — |
| % Build-to-suit (Development Starts) | 18.3% | Q3 2026 | — |
| Acquisitions | $702M | Q3 2026 | — |
| Adjusted EBITDA attributable to common stockholders/unitholders non-GAAP | 2.08B | Three Months Ended September 30, 2026 | — |
| AFFO attributable to common stockholders/unitholders non-GAAP | 1.21B | Three Months Ended September 30, 2026 | — |
| Annual NOI non-GAAP | $7.2B | Q3 2026 | — |
| Average Occupancy | 95.1% | Q3 2026 | — |
| Average Occupancy (Prologis Share) | 95.1% | Q3 2026 | — |
| Build Out of Land (TEI) | $39.7B | Q3 2026 | — |
| Buildings | 5,941 | Q3 2026 | — |
| Cash Rent Change | 23.4% | Q3 2026 | — |
| Cash Same Store NOI Growth non-GAAP | 5.9% | Q3 2026 | — |
| Debt as a percentage of total market capitalization | 23.9% | Q3 2026 | — |
| Development Stabilizations | $401M | Q3 2026 | — |
| Development Starts | $964M | Q3 2026 | — |
| Estimated value creation (Development Stabilizations) | $39M | Q3 2026 | — |
| Estimated value creation (Development Starts) | $155M | Q3 2026 | — |
| Estimated weighted avg margin (Development Stabilizations) | 9.7% | Q3 2026 | — |
| Estimated weighted avg margin (Development Starts) | 16.1% | Q3 2026 | — |
| Estimated weighted avg yield (Development Stabilizations) | 5.6% | Q3 2026 | — |
| Estimated weighted avg yield (Development Starts) | 6.6% | Q3 2026 | — |
| Lease Proposals | 134M | Q3 2026 | — |
| Leases Commenced (Operating and Development Portfolio) | 55.9 | Q3 2026 | — |
| Market Equity | $126B | Q3 2026 | — |
| NOI - net effective non-GAAP | 5.7% | Q3 2026 | — |
| Period End Occupancy | 95.6% | Q3 2026 | — |
| Period ending occupancy | 95.5% | Q3 2026 | — |
| Prologis Share of Same Store Property NOI - Cash non-GAAP | $1.56B | Q3 2026 | — |
| Prologis Share of Same Store Property NOI - Net Effective non-GAAP | $1.71B | Q3 2026 | — |
| Rent change (net effective) - Prologis Share non-GAAP | 38% | Q3 2026 | — |
| Retention | 75.9% | Q3 2026 | — |
| Square Feet | 1.3B | Q3 2026 | — |
| Strategic capital fees and promotes | $420M | Q3 2026 | — |
| Total available liquidity | $8.8B | Q3 2026 | — |
| Total Capital Expenditures - Prologis Share | 303.77M | Q3 2026 | — |
| Total Dispositions and Contributions | $169M | Q3 2026 | — |
| Total Operating Portfolio Square Feet | 1.23B | Q3 2026 | — |
| Total Square Feet of Leases Commenced | 55.92M | Q3 2026 | — |
| U.S. IBI Activity Index | 59.1 | Q3 2026 | — |
| U.S. Space Utilization | 84% | Q3 2026 | — |
| Value creation from stabilizations non-GAAP | $610M | Q3 2026 | — |
| Weighted average interest rate on share of total debt | 3.3% | Q3 2026 | — |
| Weighted average term of debt | 7.6 | Q3 2026 | — |
| Weighted avg stabilized cap rate (excluding land, properties under development, and other real e | 5.1% | Q3 2026 | — |
| Weighted avg stabilized cap rate (excluding other real estate) | 4.2% | Q3 2026 | — |
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
| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
PLD
this stock
Prologis, Inc.
|
$119.96B | +0.8% | +7.2% | 28.4 | 1.8% |
|
PSA
Public Storage
|
$62.14B | +28.2% | +2.7% | 34.9 | 3.8% |
|
EXR
Extra Space Storage Inc.
|
$33.08B | +21.7% | +3.7% | 32.3 | 2.3% |
|
EGP
Eastgroup Properties Inc
|
$10.63B | +10.9% | +12.7% | 33.5 | 8.5% |
|
CUBE
CubeSmart
|
$10.17B | +24.6% | +5.3% | 29.6 | 3.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
Prologis, Inc. entered a new equity distribution agreement on October 30, 2026, replacing its existing “at-the-market” program and allowing common stock sales with an aggregate offering price of up to $5,000,000,000.
View| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| PLD | +1.4% | +2.3% | -12.4% | +0.5% | +0.8% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -1.2% | +3.5% | -12.9% | +0.7% | -9.8% |
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.
