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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Vikram Malhotra | Mizuho Securities | 8 (13%) |
| Michael Goldsmith | UBS | 7 (14%) |
| Ron Kamdem | Morgan Stanley | 6 (0%) |
| Caitlin Burrows | Goldman Sachs | 6 (0%) |
| Vince Tibone | Green Street | 6 (0%) |
| Blaine Heck | Wells Fargo | 5 (0%) |
| Nick Thillman | Robert W. Baird | 5 (0%) |
| Ki Bin Kim | Truist Securities | 3 (0%) |
| Tom Catherwood | BTIG | 3 (0%) |
| Steve Sakwa | Evercore ISI | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Mizuho Securities | 1 | 8 (13%) |
| UBS | 1 | 7 (14%) |
| Wells Fargo | 2 | 7 (0%) |
| Evercore ISI | 2 |
| 6 (0%) |
| Morgan Stanley | 1 | 6 (0%) |
| Goldman Sachs | 1 | 6 (0%) |
| Green Street | 1 | 6 (0%) |
| Bank of America | 3 | 5 (40%) |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.20B | +16.5% | $1.37 | +101.5% | 64.6% | 58.1% | $1.34B |
| FY2025 Q1 | $2.14B | +9.4% | $0.63 | 0.0% | 41.1% | 27.7% | $1.16B |
| FY2025 Q2 | $2.18B | +8.8% | $0.60 | -33.3% | 41.8% | 26.2% | $1.24B |
| FY2025 Q3 | $2.21B | +8.7% | $0.82 | -24.1% | 40.3% | 34.5% | $1.45B |
| FY2025 Q4 | $2.25B | +2.4% | $1.49 | +8.8% | 37.8% | 62.1% | $1.16B |
| FY2026 Q1 | $2.30B | +7.4% | $1.05 | +66.7% | 36.0% | 42.7% | $1.14B |
| FY2026 Q2 | $2.43B | +11.1% | $1.13 | +88.3% | 39.6% | 43.8% | — |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Prologis delivered Q1 core FFO of $1.52 per share excluding promotes, ahead of expectations, with guidance raised to $6.12-$6.28. Record leasing of 64 million square feet continued with broadening demand across industries. Occupancy held at 95.3%. Same-store NOI growth was 6.1% net effective and 8.8% cash. Development starts reached $2.1 billion in Q1 alone, with 40% data center. The data center power pipeline stood at 5.6 GW, and solar installations reached 1.3 GW. The strategic capital platform expanded with new fund activity.
Demand | Pricing | Guidance Reliability | Macroeconomic | Cloud & AI | Capex Investment | Geographic Expansion | Trade Tariffs | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 3 | 2 | 2 | 1 | 1 | 2 | 1 |
| 2025Q1 | 6 | 2 | 3 | 2 | 4 | |||
| 2025Q2 | 7 | 2 | 2 | 4 | 1 | 1 | ||
| 2025Q3 | 7 | 3 | 2 | 3 | 1 | 1 | 1 | |
| 2025Q4 | 3 | 1 | 3 | 4 | 6 | 2 | ||
| 2026Q1 | 7 | 5 | 1 | 1 | 3 | 3 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 4 | 6 | 7 | 7 | 3 | 7 |
| Pricing | 3 | 2 | 2 | 3 | 1 | 5 |
| Guidance Reliability | 2 | 3 | 2 | 3 | 1 | |
| Macroeconomic | 2 | 2 | 4 | 2 | 1 | |
| Cloud & AI | 1 | 3 | 4 | 3 | ||
| Capex Investment | 1 | 1 | 6 | 3 | ||
| Geographic Expansion | 2 | 1 | 1 | 2 | 1 | |
| Trade Tariffs | 1 | 4 | 1 | 1 |
What PLD and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Prologis started it many, many years ago with their Fund business.”
VICI cites Prologis's fund business as a model for accessing alternative private capital pools, a strategy VICI is studying for its own growth.
“Or Prologis, where they have been able to influence logistics across the globe.”
UDR's CEO cites Prologis as an example of a company that achieved scale-based dominance in logistics, contrasting it with the fragmented apartment sector.
“an expansion of our relationship with La Caisse through a pan-European venture focused on both development and acquisition strategies”
Prologis expanded its strategic-capital relationship with La Caisse (CDPQ) via a $1.2 billion pan-European development and acquisition venture, signaling continued pension-fund appetite for logistics real estate.
“We announced a $1.6 billion joint venture with GIC”
Prologis formed a $1.6 billion joint venture with Singapore sovereign wealth fund GIC to develop and hold U.S. build-to-suit opportunities, reflecting strong institutional investor demand for its platform.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PLD Prologis | 7 | +7.4% | |
| EXR Extra Space Storage | 5 | +1.9% | |
| PSA Public Storage | 5 | +2.9% |