Prologis, Inc. (PLD) Stock

Prologis, Inc. (PLD) is a Real Estate stock trading at $141.82 (as of 2026-08-21), with a market capitalization of $132.22B and a trailing P/E of 35.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Prologis is a logistics real estate company that owns or invests in industrial and development properties across multiple countries and leases logistics facilities to customers. Its leases serve business-to-business and retail/online fulfillment tenants.

Understand Prologis, Inc.: how it makes money

Prologis owns and leases logistics real estate to B2B and retail or online fulfillment customers, making money mainly from rental revenues and also from strategic capital revenues.

Prologis earns most of its profit engine from recurring rental revenues under long-term logistics leases, with an additional (smaller) contribution from strategic capital activities such as promote income when properties and investments are monetized.

Revenue by segment (latest quarter)
Rental$2.1B
Strategic cap$0.2B

Business quality (Strong): The business model is anchored in leasing (rental revenues), while strategic capital revenues and promote-type components add upside but are inherently a less steady piece of the mix.

Valuation: At 35× earnings, PLD trades in line with the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Recurring lease income is the core: Rental revenues are the largest component of reported revenue (2.13B of 2.3B for the latest quarter provided).
  • Customer base spans B2B and retail or online fulfillment: The company leases modern logistics facilities to approximately 5,500 customers across two major categories, business-to-business and retail or online fulfillment.

Bear case

  • Results can be sensitive to capital-market activity: Strategic capital revenues are a smaller portion of revenue (0.16B of 2.3B provided) and depend on strategic capital activities, which can be less predictable than rental income.
  • Real estate demand is cyclical by nature: Because the company’s earnings are tied to leasing logistics facilities across 19 countries, downturns in industrial and logistics real estate conditions can pressure lease economics.
Valuation — source: SEC EDGAR (first-party)
Price$141.82
Market Cap$132.22B
P/E Ratio35.6
EV / EBITDA22.4
Price / Book2.28
Price / Sales14.78
DCF Value (model)$162.25
DCF Upside vs Price14.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$8.79B
Net Margin37.9%
Revenue Growth (YoY)7.4%
EPS Growth (YoY)64.1%
Valuation vs Sector & Industry
Stock P/E35.6
Sector P/E (Real Estate)27.2
Industry P/E (Trading)35.3
vs Sector30.9%
vs Industry0.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Sells (12mo)6
Top Institutional HolderVANGUARD GROUP INC ($15.74B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorReal Estate
IndustryTrading
CEODaniel Stephen Letter
Employees2,703
CountryUS
IPO Date1997-11-21

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PLD earnings history · PLD institutional & insider holders · PLD KPIs & operating metrics · PLD financials · PLD investor presentations & press releases · PLD SEC filings · PLD peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.