Prologis Q3 FFO Beats, Revenue Misses; Guidance Narrowed
PLD is trading near its 52-week low of $116.514 (9.6% above the low).
Summary
Prologis reported mixed Q3 2026 results: core FFO of $1.60 per share beat the $1.56 consensus, but rental and other revenue of $2.224 billion fell short of the $2.285 billion estimate. Operating income rose to $1.04 billion from $940 million a year earlier, and same-store net operating income grew 5.9% on a cash basis. The company narrowed its full-year 2026 core FFO guidance to $6.25-$6.29 per share from $6.22-$6.30, and tightened its average occupancy forecast to 95.25%-95.50%. CEO Daniel Letter highlighted 60 million square feet of leases signed and nearly $2.3 billion in transactions during the quarter, with demand supported by e-commerce, advanced manufacturing, and data center supply chains. Shareholders approved the SEGRO transaction, which will expand Prologis' European presence. Shares were down 1.86% at $128.03 following the report.
At the time of this announcement, PLD was trading at $127.67 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $123.7B. The 52-week trading range was $116.51 to $153.35. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Benzinga.