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Analyst
Tom Catherwood
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters; questions recorded in 4).
- Questions
- 7on tracked calls
- Challenge rate
- 0%none of 7 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 4with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 7 of 7 questions from 2 companies
AREAlexandria Real Estate Equities4 questions · 2 reporting periods · 0 of 4 challenging
Calendar 2025 Q2
how you classify certain leasing
Show response
Peter and Marc confirmed the gap between total development leasing and the 131K sqft figure was second-gen vacant space from the general operating portfolio.
that pipeline of prospects then is larger and kind of increasing compared to what it would have been a quarter or a year ago
Show response
Peter confirmed the prospect pool has grown but cautioned that decision timelines remain elongated, so more prospects won't necessarily translate to more near-term leasing.
Calendar 2024 Q4
is it competing against new construction? Is it competing against second gen space
Show response
Joel explained competition varies by tenant size with smaller tenants preferring existing space and larger preferring new.
I think you mentioned 136,000 square feet of signed or negotiating leases. Was that those 2 buildings? Or was the 4 buildings with vacancy
Show response
Joel confirmed the 136K sqft progress was specific to Tech Square but declined further granularity, noting 409 Illinois demand is institutional and AI-related.
PLDPrologis3 questions · 3 reporting periods · 0 of 3 challenging
Calendar 2026 Q2
how much market rent growth is needed for your embedded mark-to-market to start expanding?
Show response
Arndt gave the mechanical condition for mark-to-market expansion and reiterated it should normalize to a low double-digit run rate.
Calendar 2025 Q2
What is driving the bifurcation between these metrics
Show response
Caton said need full picture view of different metrics given volatility. Some metrics are retrospective and some are prospective. Customer survey data in supplemental captures different things at different points in time. Macro volatility means metrics will depict different aspects of the market. Full picture approach including lease signings pipeline build-to-suit dialogues and customer engagement provides more complete update.
Calendar 2025 Q1
what are the risks to consumers going forward
Show response
Moghadam said in recessionary environment consumption takes a hit but relationship between consumption and GDP remained constant for decades at about 70% in US. Since 2017 tariffs US production of consumed goods went up 2% in real terms and China up 2% while overall consumption went up in mid-20s with increase from China plus 1 Mexico and to lesser extent Europe. Where goods are consumed is what matters and consumption of what is consumed has not been affected by prior tariffs.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| ARE Alexandria Real Estate Equities | 4 | 0%none of 4 questions |
| PLD Prologis | 3 | 0%none of 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 2 | 0%none of 2 questions | 1 |
| 2025 Q1 | 1 | 0%none of 1 question | 1 |
| 2025 Q2 | 3 | 0%none of 3 questions | 2 |
| 2025 Q3 | No questions recorded | — | — |
| 2025 Q4 | No questions recorded | — | — |
| 2026 Q1 | No questions recorded | — | — |
| 2026 Q2 | 1 | 0%none of 1 question | 1 |
- 2024 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q23 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2025 Q3No questions recorded
- 2025 Q4No questions recorded
- 2026 Q1No questions recorded
- 2026 Q21 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Demand4
- Macroeconomic2
- Pricing1
- Revenue Growth1
- Capex Investment1
- Trade Tariffs1
- Competitive Dynamics1