REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-07-29 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Q2 revenues of $2.43B and net earnings of $1.06B ($1.13 diluted EPS), boosted by $83M of promote revenue and $212M of gains on other real estate dispositions.
Biggest Revenue Drivers
Real Estate segment$2.18B
Rental revenues of $2.18B; rent change on rollover of 36.9% NER on our share of the O&M portfolio
Strategic Capital segment$242M
Asset and property management services for unconsolidated co-investment ventures, plus transactional fees and promotes
Biggest Revenue Drivers
Total revenue: $2.43B
Real Estate segment$2.18B
Rental revenues of $2.18B; rent change on rollover of 36.9% NER on our share of the O&M portfolio
Within Real Estate segment
U.S.$2.06B
Substantially all consolidated rental revenue, NOI and cash flows from rental operations are generated in the U.S.
Strategic Capital segment$242M
Asset and property management services for unconsolidated co-investment ventures, plus transactional fees and promotes
Within Strategic Capital segment
Promote revenue$83M
Earned primarily in the second quarter from an unconsolidated co-investment venture in the Other Americas
Recurring fees$138M
Asset management and property management fees from unconsolidated co-investment ventures
Largest Expense Items
Depreciation and amortization$690M
Impacted by size and timing of acquisitions, dispositions and contributions, and development properties placed into service
Rental expenses$531M
Property operating costs, the majority of which are reimbursed by customers under operating leases
General and administrative$130M
Increased principally due to inflationary increases and higher compensation expenses
Strategic capital expenses$96M
Includes Prologis Promote Plan awards, with expense in the period relating to promotes recognized in prior periods
Margins: Real Estate segment NOI was $1.63B and Strategic Capital NOI $146M, the latter including $62M of promote revenue net of related expenses. Prologis-share same store property NOI rose 6.4% net effective and 8.5% cash.
Watch Items from the Filing
Best and Final Proposal to acquire SEGRO plc: 0.0920 Prologis shares per SEGRO share plus up to ~£3.5B cash; firm-offer deadline extended to August 12, 2026.
Strategic Capital results included $83M of promote revenue ($62M net of related expenses) that is episodic; the segment normally contributes 5%-10% of revenues excluding promotes.
O&M operating portfolio occupancy slipped to 95.5% at June 30, 2026 from 95.8% at December 31, 2025; consolidated occupancy 95.3%.
Development portfolio was only 43.2% leased with $5.7B TEI and $3.0B of additional investment required, including $2.5B of data centers with 680 megawatts.
Debt of $36.4B at a 3.3% weighted average rate, with $1.1B maturing in the remainder of 2026 and $2.0B in 2027 against $7.6B liquidity.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
30 transactions in PLD reported by 13 members of Congress under the STOCK Act, most recent trade Mar 20, 2026. Reported transactions, not recommendations.
About Prologis, Inc. (PLD): stock profile, AI score and financials
Prologis, Inc. (PLD) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores PLD at 72.0/100 on a composite quality score built from its SEC filings, placing it at rank #6 of 148 stocks — the top 5% of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), Prologis, Inc. reports quarterly revenue of $2.4B, net income of $1.1B, an operating margin of 51.6%. Top institutional holders of PLD by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. PLD trades on the NYSE exchange and files with the SEC under CIK 1045609. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate PLD daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Prologis, Inc. directly from SEC EDGAR.