PLD · Earnings call · 2026Q3T · Full report

Quarterly Earnings Performance

Prologis, Inc. · 2026-10-15 · Importance 66 · Surprise 56 · Contradicted

Core FFO was $1.60 per share in the third quarter of 2026, or $1.61 excluding net promote expense. Same-store NOI growth was 5.7% on a net effective basis and 5.9% on a cash basis. Rent change on rollover was 38% net effective and 23% cash, contributing $85 million of incremental NOI. The lease mark-to-market was 16%, representing approximately $780 million of embedded NOI at spot rents.

Key facts

• Prologis expects G&A to range between $515 million to $525 million for the year.
• Prologis expects core FFO to range between $6.25 and $6.29 per share for the year, both with and without promotes.
• Prologis delivered same-store NOI growth of 5.7% on a net effective basis and 5.9% on a cash basis.
• Prologis delivered core FFO of $1.60 per share for the third quarter and $1.61 per share excluding net promote expense.

Impact estimates