Prologis
Owner, developer and manager of global logistics real estate and co-investment ventures.
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Profile
Owns, develops and leases logistics facilities across the Americas, Europe and Asia, while Prologis Essentials adds energy and operating solutions. Strategic Capital manages co-investment ventures for institutions, pairing rental income with management and transaction fees.
Owns, develops and manages logistics facilities in major consumption and distribution markets across the Americas, Europe and Asia. The Real Estate segment earns rent from operating properties and develops logistics buildings, build-to-suit projects and data centers; the U.S. remains the portfolio core.
Extends the warehouse platform through Prologis Essentials, which supplies operational, energy and sustainability solutions. Strategic Capital manages unconsolidated co-investment ventures for institutional partners and earns asset, property and transaction-management fees, plus performance-based promotes.
Execution rests on strategically located sites, local leasing and development teams, customer relationships and access to power for energy and digital infrastructure. Results depend on occupancy, lease economics, development demand, partner capital, financing conditions and continued qualification as a REIT.
Company facts
Categories
Key statistics
Year to date +9.1% · Average volume (30d) 4.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 5, 2026 | RBC Capital | Upgrade | Sector Perform | Outperform | ||
| Aug 4, 2026 | RBC Capital | Upgrade | Sector Perform | Outperform | $148 | $160 |
| Jul 31, 2026 | Robert W. Baird | Target | $130 | $140 | ||
| Jul 23, 2026 | Scotiabank | Reiterate | Sector Perform | $154 | $150 | |
| Jul 17, 2026 | Mizuho Securities | Target | $143 | $159 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 16, 2026Q2 FY26 | $0.75 | $1.13 | +51.3% | $2.16B | $2.18B | +0.7% | −0.18% |
| Apr 16, 2026Q1 FY26 | $0.81 | $1.05 | +30.3% | $2.12B | $2.13B | +0.2% | +2.06% |
| Jan 21, 2026Q4 FY25 | $0.77 | $1.44 | +87.0% | $2.09B | $2.09B | +0.1% | −3.41% |
| Oct 15, 2025Q3 FY25 | $1.44 | $1.49 | +3.5% | $2.09B | $2.21B | +6.1% | −1.30% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.14B | $2.18B | $2.21B | $2.25B | $2.30B | $2.43B | |
| Gross profit | $1.59B | $1.63B | $1.01B | $1.01B | $232.5M | $420.0M | |
| Operating income | $878.4M | $912.7M | $892.6M | $852.4M | $827.0M | $959.7M | |
| Net income | $593.0M | $571.2M | $764.3M | $1.40B | $982.0M | $1.06B | |
| Diluted EPS | $0.63 | $0.60 | $0.82 | $1.49 | $1.05 | $1.13 | |
| Gross margin | 74.3% | 74.7% | 45.7% | 44.6% | 10.1% | 17.3% | |
| Operating margin | 41.1% | 41.8% | 40.3% | 37.8% | 36.0% | 39.6% |
Fiscal years (4-quarter sums)FY21 $4.76B · FY22 $5.97B · FY23 $8.02B · FY24 $8.20B · FY25 $8.79B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.77B · Total debt $36.44B · Total assets $101.01B · Shareholders' equity $53.73B
Dividends
Raised for 16 straight years — most recently to $1.07 from $1.01 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 16, 2026 | Jun 16 | Jun 30 | $1.07 | |
| Mar 17, 2026 | Mar 17 | Mar 31 | $1.07 | raised from $1.01 |
| Dec 16, 2025 | Dec 16 | Dec 31 | $1.01 | |
| Sep 16, 2025 | Sep 16 | Sep 30 | $1.01 | |
| Jun 17, 2025 | Jun 17 | Jun 30 | $1.01 | |
| Mar 18, 2025 | Mar 18 | Mar 31 | $1.01 | raised from $0.96 |
| Dec 16, 2024 | Dec 16 | Dec 31 | $0.96 | |
| Sep 16, 2024 | Sep 16 | Sep 30 | $0.96 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 933.08M · Float 930.72M · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 103.39M | 11.08% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 60.90M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corp | 55.92M | 5.99% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 55.26M | 5.92% | 13F | Aug 13, 2026 |
| Geode Capital Management, LLC | 23.89M | 2.56% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 16, 2026 | Hamid Moghadam | director | −50,000 | $149.91 |
| Jun 15, 2026 | Timothy D. Arndt | officer: Chief Financial Officer | −3,597 | $150.00 |
| Jan 28, 2026 | Sarah A. Slusser | director | −10 | $127.57 |
| Oct 9, 2025 | Sarah A. Slusser | director | −42 | $114.69 |
| Oct 8, 2025 | Sarah A. Slusser | director | −18 | $115.87 |
Peers
- First Industrial Realty Trust
US-only logistics REIT; ~72M sq ft in the same top-15 coastal US markets.
- Rexford Industrial
Southern California pure-play industrial REIT; rival in PLD's top US market.
- EastGroup Properties
Sun Belt shallow-bay industrial REIT; ~66M sq ft in overlapping US markets.
- STAG Industrial
US single-tenant industrial REIT in 41 states; competes for same tenants.
- Terreno Realty
US coastal infill industrial REIT; exclusive focus on PLD's six core markets.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Prologis | $140.35 | −0.29% | $131.32B | 31.3 | 40.4 | 14.3 | −0.3% |
| First Industrial Realty Trust | $61.94 | 0.00% | $8.21B | 22.6 | 35.3 | 10.8 | +8.2% |
| Rexford Industrial | $37.00 | −0.39% | $8.49B | — | 33.1 | 8.6 | −2.6% |
| EastGroup Properties | $200.00 | −0.01% | $10.75B | 35.1 | 36.2 | 14.3 | +9.1% |
| STAG Industrial | $37.18 | +0.01% | $7.17B | 28.6 | 74.1 | 8.1 | +7.7% |
| Terreno Realty | $66.59 | +0.02% | $7.08B | 17.9 | 36.8 | 14.1 | +11.1% |
| Median | 25.6 | 36.2 | 10.8 | +8.2% |