Prologis Q3 net income beats estimates, EPS rises

Prologis

15/10/2026 13:10

Overview
Global logistics real estate provider's Q3 net income beat analyst expectations
Q3 net earnings per diluted share rose to $0.86 from $0.82 yr/yr

Outlook
Prologis lowers 2026 net earnings guidance to $4.05-$4.15 per share from $4.40-$4.55
Prologis expects 2026 average occupancy of 95.25%-95.50% and cash same store NOI growth of 7.00%-7.50%

Result Drivers
CUSTOMER DEMAND - Co said healthy demand was supported by e-commerce, advanced manufacturing and data center supply chain build-out
LEASING ACTIVITY - Co signed 60 mln square feet of leases and announced nearly $2.3 bln of transactions in the qtr
RENT GROWTH - Co reported cash same store NOI growth of 5.9% and net effective rent change of 38% in the qtr

Company press release: ID:nPn92gW8Ta

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
 
$0.86
 
Q3 Net Income
Beat
$816 mln
$789.33 mln (6 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 5 "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 $159.50, about 22.3% above its October 14 closing price of $130.46
The stock recently traded at 42 times the next 12-month earnings vs. a P/E of 40 three months ago

Reuters Recommended Reads
Oct 14 - US banks post solid third-quarter loan growth, but face more competition for deposits
Oct 14 - American Electric Power to invest $4 billion in fuel cell project to power Google
Oct 14 - BlackRock draws $205 billion in client funds as quarterly profit beats estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)