---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-017256"
form_type: "8-K"
ticker: "PLD"
cik: "0001045609"
company_name: "Prologis, Inc."
filed_at: "2026-01-21T23:59:59+00:00"
generated_at: "2026-05-16T09:12:29.459916+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Prologis Q4 2025 Core FFO $1.44 vs $1.50 YoY; 2026 guide $6.00-$6.20; record 228M sq ft leases in 2025

## Summary
- Q4 net earnings $1.49/diluted share ($3.56 FY) vs $1.37 ($4.01 FY) prior year; Core FFO $1.44 ($5.81 FY) vs $1.50 ($5.56 FY).
- 2026 guidance: Core FFO $6.00-$6.20, net earnings $3.70-$4.00; cash same-store NOI growth 5.75%-6.75%.
- Record leasing: 228M sq ft signed in 2025; data center power pipeline expanded to 5.7 GW.
- Q4 development stabilizations $539M at 6.4% yield, $95M value creation; starts $1,019M at 6.1% yield.
- Closed $3.0B aggregate debt at 3.1% avg rate/7.2yr term; debt-to-EBITDA 5.3x, market cap debt 24.6%.

## SEC filing metadata
- accession: 0001193125-26-017256
- form_type: 8-K
- ticker: PLD
- cik: 0001045609
- company_name: Prologis, Inc.
- filed_at: 2026-01-21T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1045609/000119312526017256/0001193125-26-017256-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1045609/000119312526017256/pld-20260121.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-017256
- JSON: https://secwatch.observer/filing/0001193125-26-017256.json
- Plain text: https://secwatch.observer/filing/0001193125-26-017256.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.