PLD Prologis Inc

$PLD Q3 '26 Earnings Results & Recap • Reported GAAP EPS of $0.86 up 4.88% YoY • Reported revenue of $2.39B up 7.84% YoY • Prologis lowered its 2026 net earnings guidance to $4.05 to $4.15 per diluted share; Core FFO guidance is $6.25 to $6.29, and Cash Same Store NOI is 7.00% to 7.50%.

$PLD Prologis, the San Francisco logistics-property REIT, cut its 2026 GAAP net earnings guidance to $4.05–$4.15 a share from $4.40–$4.55, about 8% lower at the midpoint. That's roughly $363M across 968.5M diluted Q3 shares, vs a ~$121.6B market value at $130.46 (16:00 ET Oct 14, 2026). Prologis reported Q3 2026 results Oct 15: net earnings $0.86 a diluted share vs $0.82 a year earlier, and Core FFO $1.60 vs $1.49. Core FFO guidance, which excludes sale gains, moved to $6.25–$6.29 from $6.22–$6.30. Call Oct 15, 12 p.m. ET; SEGRO deal still to close.

$PLD FSP, the most lowest entry cost at .50 cents with a 12x upside just to value it at current book value of $5.58 per share, adjusted book value adding back in depreciation is at $9.45 They own beautiful properties and they are looking to sell the whole company. Ultra cheap. Ridiculously cheap. To cheap. I want to buy the whole company at these prices. Everyone needs to be buying every single share up.

$PLD Q3 Core FFO came in at 1.60 dollars a share, up from 1.49 a year ago and a bit ahead of the 1.58 consensus. Net effective rent change on rollovers was 38.0%, cash same store NOI grew 5.9%, and period-end occupancy ended at 95.6% after averaging 95.1% in the quarter. Guidance is a split read though. Cash same store NOI guidance moved up to 7.0% to 7.5%, but the Core FFO range just narrowed to 6.25 to 6.29 dollars, and GAAP earnings guidance was cut to 4.05 to 4.15 dollars from 4.40 to 4.55.

$PLD | PROLOGIS, INC. Q3 2026 EARNINGS HIGHLIGHTS ◆ FFO: $1.60 vs. $1.58 est. ✅ ◆ Revenue: $2.39B vs. $2.18B est. ✅ ◆ Net Income: $815.7M (+6.9% YoY) ◆ Core FFO: $1,544.6M (+8.3% YoY) ◆ Same-Store NOI Growth: 5.9% ◆ Occupancy Rate: 95.1% Segment Performance: ◆ Rental Revenue: $2,205.3M (+7.4% YoY) ◆ Strategic Capital: $164.3M (+9.3% YoY) ◆ Dev. Mgmt & Other: $17.9M (+92.1% YoY) Key Metrics: ◆ Q3 2026 development starts totaled $964M at a 6.6% estimated weighted average yield and 16.1% margin. ◆ Prologis signed 60 million square feet of leases in Q3 2026; cash rent change was +23.4% on commenced leases. ◆ Total available liquidity was approximately $8.8B at quarter-end; debt-to-Adjusted EBITDA was 4.5x. Forward Guidance: ◆ FY2026 Core FFO per share: $6.25 to $6.29 (narrowed from $6.22-$6.30) ◆ FY2026 Net earnings per share: $4.05 to $4.15 (lowered from $4.40-$4.55) ◆ FY2026 Cash Same Store NOI growth: 7.00% to 7.50% (raised from 6.75%-7.25%) ◆ FY2026 average occupancy: 95.25% to 95.50% (narrowed from 95.25%-95.75%)

$PLD Scotiabank upgraded this to Outperform on Tuesday with a 150 dollar target, two days before today's Q3 print, and the stock's still down about 6% heading in. Q2 set a pretty high bar. Core FFO was 1.63 dollars a share, occupancy ended at 95.5%, a record 67 million square feet of leases got signed, and full-year Core FFO guidance went up to 6.22 to 6.30 dollars. Consensus for Q3 sits around 1.57 to 1.58 dollars of Core FFO.