$PLD · Prologis, Inc.
Prologis reported Q3 2026 results on October 15, 2026, with net earnings of $0.86 per diluted share (vs $0.82 YoY) and Core FFO of $1.60 per share (vs $1.49 YoY). Total revenues reached $2.39B, up from $2.21B in Q3 2025. The company raised FY2026 Core FFO guidance to $6.25–$6.29 per share and expects 95.25%–95.50% average occupancy.
- Q3 Core FFO per share $1.60, up 7.4% from $1.49 in Q3 2025.
- Q3 net earnings per diluted share $0.86 vs $0.82 in the prior-year quarter.
- Total revenues rose to $2.39B from $2.21B YoY; rental revenue hit $2.21B.
- FY2026 Core FFO guidance raised to $6.25–$6.29 per share, with 95.25%–95.50% average occupancy.
- 60 million square feet of leases signed in Q3; nearly $2.3B in transactions announced.
PLD up ~1.15% since filing, trading at $132.03 on a $125.48B market cap — a modest positive reaction consistent with a beat-and-raise quarter from the logistics REIT leader.
The world's largest logistics REIT posted a beat-and-raise quarter with accelerating lease activity (60M sq ft), signaling that industrial real estate demand is firming after a period of normalization
Prologis's results signal healthy logistics real estate demand, with CEO citing lean customer inventories and cleared excess capacity — a positive read-through for the industrial REIT sector broadly.
FX exposure hedged for Euro, Sterling, and Yen but guidance assumes specific rates (1.14 $/€, 1.33 $/£, 157 ¥/$); deviations could pressure results. Rising interest expense ($287M vs $258M YoY) reflects higher debt costs.
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