secwatch.observer — SEC 8-K summary
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Issuer:     Prologis, Inc. (PLD)
CIK:        0001045609
Form:       8-K
Filed at:   2026-01-21T23:59:59+00:00
Accession:  0001193125-26-017256
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1045609/000119312526017256/0001193125-26-017256-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1045609/000119312526017256/pld-20260121.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-017256

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