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Sentiment · FY2026 Q2
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Obviously, Prologis has a very robust and high-quality fund business. We're watching and seeing what Realty Income does with their fund business. Welltower is diversified.”
VICI points to Prologis's robust, high-quality fund/asset-management business as a REIT model it is studying as the sector evolves toward asset management.
“an expansion of our relationship with La Caisse through a pan-European venture focused on both development and acquisition strategies”
Prologis expanded its strategic-capital relationship with La Caisse (CDPQ) via a $1.2 billion pan-European development and acquisition venture, signaling continued pension-fund appetite for logistics real estate.
“We announced a $1.6 billion joint venture with GIC”
Prologis formed a $1.6 billion joint venture with Singapore sovereign wealth fund GIC to develop and hold U.S. build-to-suit opportunities, reflecting strong institutional investor demand for its platform.
“developed in partnership with JLL, Cushman and Wakefield, and Colliers”
Prologis created an industry logistics data snapshot in partnership with brokerages JLL, Cushman & Wakefield and Colliers.
“developed in partnership with JLL, Cushman and Wakefield, and Colliers”
Prologis created an industry logistics data snapshot in partnership with brokerages JLL, Cushman & Wakefield and Colliers.
“developed in partnership with JLL, Cushman and Wakefield, and Colliers”
Prologis created an industry logistics data snapshot in partnership with brokerages JLL, Cushman & Wakefield and Colliers.
“Our business with UPS has continued, and we've done actually some pretty significant leases with them lately.”
Asked about UPS potentially downsizing its Amazon-related exposure, management said its UPS business relationship has continued with significant new leasing activity, with no sign of change from UPS.
“We have definitely seen Amazon in the market. As a matter of fact, we've signed some pretty good deals with them this year.”
Prologis confirms Amazon has returned actively to the leasing market and says it has signed several strong deals with Amazon this year as e-commerce leasing strengthens.
“Our balance sheet remains in great shape as evidenced by the upgrade we received from Moody's this quarter to an A2 rating.”
Moody's upgraded Prologis to an A2 rating during the quarter, making it one of only two public REITs with an A-flat rating from both major agencies.
Prologis delivered Q1 core FFO of $1.52 per share excluding promotes, ahead of expectations, with guidance raised to $6.12-$6.28. Record leasing of 64 million square feet continued with broadening demand across industries. Occupancy held at 95.3%. Same-store NOI growth was 6.1% net effective and 8.8% cash. Development starts reached $2.1 billion in Q1 alone, with 40% data center. The data center power pipeline stood at 5.6 GW, and solar installations reached 1.3 GW. The strategic capital platform expanded with new fund activity.
Demand | Pricing | Capex Investment | Cloud & AI | Macroeconomic | Guidance Reliability | Capital Allocation | Geographic Expansion | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 3 | 1 | 1 | 2 | 2 | 1 | 2 |
| 2025Q1 | 6 | 2 | 2 | 3 | 1 | |||
| 2025Q2 | 7 | 2 | 4 | 2 | 1 | |||
| 2025Q3 | 7 | 3 | 1 | 3 | 2 | 1 | 1 | |
| 2025Q4 | 3 | 1 | 6 | 4 | 3 | 1 | 2 | |
| 2026Q1 | 7 | 5 | 3 | 3 | 1 | 1 | 3 | 1 |
| 2026Q2 | 4 | 5 | 5 | 4 | 2 | 1 | 3 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Demand | 4 | 6 | 7 | 7 | 3 | 7 | 4 |
| Pricing | 3 | 2 | 2 | 3 | 1 | 5 | 5 |
| Capex Investment | 1 | 1 | 6 | 3 | 5 | ||
| Cloud & AI | 1 | 3 | 4 | 3 | 4 | ||
| Macroeconomic | 2 | 2 | 4 | 2 | 1 | 2 | |
| Guidance Reliability | 2 | 3 | 2 | 3 | 1 | 1 | |
| Capital Allocation | 1 | 1 | 1 | 1 | 3 | 3 | |
| Geographic Expansion | 2 | 1 | 1 | 2 | 1 | 1 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Vikram Malhotra | Mizuho Securities | 8 (13%) |
| Mike Goldsmith | UBS | 7 (14%) |
| Ron Kamdem | Morgan Stanley | 6 (0%) |
| Caitlin Burrows | Goldman Sachs | 6 (0%) |
| Vince Tibone | Green Street | 6 (0%) |
| Blaine Heck | Wells Fargo | 5 (0%) |
| Nick Thillman | Robert W. Baird | 5 (0%) |
| Ki Kim | Truist Securities | 3 (0%) |
| Tom Catherwood | BTIG | 3 (0%) |
| Steve Sakwa | Evercore ISI | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Mizuho Securities | 1 | 8 (13%) |
| UBS | 1 | 7 (14%) |
| Wells Fargo | 2 | 7 (14%) |
| Evercore ISI | 2 |
| 6 (0%) |
| Morgan Stanley | 1 | 6 (0%) |
| Goldman Sachs | 1 | 6 (0%) |
| Green Street | 1 | 6 (0%) |
| Bank of America | 3 | 5 (40%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PLD Prologis | 8 | +11.1% | |
| EXR Extra Space Storage | 5 | +1.9% | |
| PSA Public Storage | 5 | +2.9% |