CORRECTED-Prologis Q4 revenue and net income beat expectations (Jan 21)

Overview

• Logistics real estate firm's Q4 revenue and net income beat analyst expectations

• Adjusted FFO per share for Q4 was $1.46

• Company achieved record 228 mln square feet of leases signed in 2025

Outlook

• Prologis expects 2026 net earnings per share between $3.70 and $4.00

• Company forecasts 2026 Core FFO per share between $6.00 and $6.20

• Prologis anticipates 2026 average occupancy between 94.75% and 95.75%

Result Drivers

• RECORD LEASE SIGNINGS - Prologis signed a record 228 mln square feet of leases in 2025, indicating strong demand

• DATA CENTER EXPANSION - Expanded data center power pipeline to 5.7 gigawatts, supporting growth in digital infrastructure

• STRATEGIC INVESTMENTS - Development stabilizations and acquisitions contributed to financial performance, with $517M in acquisitions and $539M in development stabilizations

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy"

• Wall Street's median 12-month price target for Prologis Inc is $138.00, about 5.5% above its January 20 closing price of $130.81

• The stock recently traded at 41 times the next 12-month earnings vs. a P/E of 37 three months ago

Press Release: ID:nPn9QYGVza

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