PLD

Prologis (PLD) lifted its 2026 cash same-store NOI growth guidance to 7-7.5% as U.S. industrial vacancy tightened to 7.1% and rents rose for the third consecutive quarter. The company outlined a 5.8-gigawatt data center pipeline and expects the SEGRO acquisition to close in H1 2027. However, higher interest rates pose risks to property transactions and valuations, and the Zacks Rank reflects unfavorable earnings estimate revisions.

Prologis (PLD) reported Q3 2026 core FFO of $1.60 per share, up 7.4% year-over-year and beating consensus estimates. Rental revenues grew 7.4% to $2.21B, while average occupancy improved to 95.1%. The company narrowed 2026 core FFO guidance to $6.25-$6.29 and raised development starts guidance to $5.0-$5.75B, reflecting strong operational performance and capital deployment plans.

Prologis is set to report Q3 2026 results on October 15, with expectations for strong performance driven by improved leasing activity, rising occupancy rates, and healthy rental growth. The company raised full-year development starts guidance to $5.5-$6.5 billion amid stronger market demand. However, the Zacks model predicts no conclusive FFO beat, with an Earnings ESP of 0.00% and a Zacks Rank of 4 (Sell).