Core Viewpoint - FIBRA Prologis will host a conference call on February 24, 2026, to discuss its fourth quarter results, current market conditions, and future outlook [1] Company Overview - FIBRA Prologis is a leading owner and operator of Class-A logistics real estate in Mexico [1] - As of September 30, 2025, the company’s portfolio includes 515 investment properties totaling 87.0 million square feet (8.1 million square meters) [1] - The portfolio consists of 348 logistics and manufacturing facilities across six industrial core markets in Mexico, comprising 65.7 million square feet (6.1 million square meters) of Gross Leasing Area (GLA) [1] - Additionally, it includes 167 buildings with 21.3 million square feet (2.0 million square meters) of non-strategic assets in other markets [1] Conference Call Details - The conference call will take place at 9:00 a.m. Mexico Time on February 24, 2026 [1] - Access to the call can be made via a toll-free number from the U.S. and Canada (+1 888 596 4144), from Mexico (800 269 4416), or from other countries (+1 646 968 2525) [1] - A live webcast will be available on the company’s Investor Relations section of its website [1] - A telephonic replay will be accessible from February 24 to March 3, 2026 [1]

Core Viewpoint - Prologis, Inc. has approved a 6% increase in its quarterly common stock dividend, raising it to $4.28 per share [1] Dividend Announcement - The Board declared a cash dividend of $1.07 per share for common stockholders, payable on March 31, 2026, to stockholders of record as of March 17, 2026 [1] - Additionally, a dividend of $1.0675 per share for the company's 8.54% Series Q Cumulative Redeemable Preferred Stock will also be paid on the same date to Series Q stockholders of record [1] Company Overview - Prologis is a leader in logistics real estate, focusing on creating intelligent infrastructure that supports global commerce [1] - The company emphasizes the integration of digital and physical worlds, aiming to enhance supply chain efficiency and promote sustainable growth [1] - Prologis positions itself as a unique entity in the logistics sector, committed to innovation and unmatched scale [1]

Core Viewpoint - The world's largest owner of industrial real estate is considering a co-investment vehicle that will focus on data centers to capitalize on the growing AI boom [1] Group 1 - The company aims to leverage the increasing demand for data centers driven by advancements in artificial intelligence [1]

Core Viewpoint - Prologis, Inc. has announced the tax treatment of its 2025 distributions for both common and preferred stock, detailing the amounts and classifications of dividends as per IRS regulations [1][4][5]. Summary by Category Tax Treatment of Common Dividends - Prologis will distribute a total of $1.01 per share in cash for each of the four quarters in 2025, with specific allocations for ordinary income, qualified dividends, and capital gains [4]. - The breakdown for each quarter is as follows: - Q1: $1.01 total, with $0.919326 as ordinary income and $0.074260 as long-term capital gain [4]. - Q2: $1.01 total, with $0.897470 as ordinary income and $0.085983 as long-term capital gain [4]. - Q3: $1.01 total, with the same distribution as Q2 [4]. - Q4: $1.01 total, with the same distribution as Q2 [4]. Tax Treatment of Preferred Dividends - Prologis will distribute a total of $1.0675 per share in cash for each of the four quarters in 2025, with similar classifications for ordinary income and capital gains [5]. - The breakdown for each quarter is as follows: - Q1: $1.0675 total, with $1.005297 as ordinary income and $0.060450 as long-term capital gain [5]. - Q2: $1.0675 total, with $0.948563 as ordinary income and $0.090878 as long-term capital gain [5]. - Q3: $1.0675 total, with the same distribution as Q2 [5]. - Q4: $1.0675 total, with the same distribution as Q2 [5]. Additional Information - Shareholders will receive IRS Form 1099-DIV for tax reporting purposes, with specific instructions for those holding shares in "street name" [2]. - Prologis advises consultation with a tax advisor for understanding the federal, state, and local tax implications of these distributions [3].

Core Viewpoint - Prologis (PLD) is entering a favorable phase of the business cycle with multiple tailwinds supporting its growth [1] Industry Summary - Core logistics fundamentals are showing positive inflection, indicating a strengthening market environment for logistics companies [1] Company Summary - Prologis is identified as a quality company with long-term growth potential, aligning with value investing principles [1]

Company Overview - Prologis (NYSE:PLD) is a leading industrial real estate investment trust (REIT) focusing on logistics facilities globally, providing warehouses and distribution centers across various industries [1] - Prologis competes with other industrial REITs such as Industrial Logistics Properties Trust (ILPT) and First Industrial (FR), all experiencing a resurgence in demand [1] Financial Performance - BMO Capital set a price target of $123 for Prologis, with the stock currently trading at $127.24, reflecting a decrease of 2.97% from its previous price [2][6] - Prologis signed 57 million square feet of leases in Q4, boosting its occupancy rate to 95.8% and supporting strong core funds from operations (FFO) [3][6] Market Conditions - The U.S. industrial real estate market began 2026 with increased visibility, driven by a rebound in demand during the latter half of 2025 [4] - U.S. industrial vacancy rates remained steady at 7.1% for the third consecutive quarter, with full-year net absorption reaching 176.8 million square feet, marking a 16.3% increase year over year [4][6] Investor Sentiment - Investors are focusing on the sustainability of cash flows and balanced portfolios rather than peak rent growth, positioning Prologis favorably in this environment [5] - Prologis has a market capitalization of approximately $118.19 billion, with a trading volume of 3,434,012 shares on the NYSE, indicating active investor interest [5]

Core Insights - Prologis Inc. reported weak revenue for Q4, with rental and other revenue at $2.10 billion, below the analyst consensus estimate of $2.148 billion [1] - Core funds from operations (FFO) decreased to $1.44 from $1.50 year-over-year, aligning with analyst expectations [1] - Earnings per share improved to $1.49, up from $1.37 a year ago [1] Fiscal Guidance - For fiscal 2026, Prologis guided core FFO in the range of $6.00 to $6.20, compared to the consensus estimate of $6.13 [2] - The company expects Prologis Share Average Occupancy to be between 94.75% and 95.75% [2] Stock Performance and Analyst Ratings - Prologis shares fell 1.8% to $128.79 following the earnings announcement [2] - Analysts have adjusted their price targets post-earnings, with Argus Research maintaining a Buy rating and raising the target from $128 to $135 [3] - UBS also maintained a Buy rating, increasing the price target from $144 to $148 [3] - Evercore ISI Group maintained an In-Line rating, raising the price target from $118 to $121 [3]

Core Insights - Prologis Inc. reported weak revenue for Q4, with rental and other revenue at $2.10 billion, below the analyst consensus estimate of $2.148 billion [1] - Core funds from operations (FFO) decreased to $1.44 from $1.50 year-over-year, aligning with analyst expectations, while earnings per share improved to $1.49 from $1.37 [1] Fiscal Guidance - For fiscal 2026, Prologis guided core FFO in the range of $6.00 to $6.20, compared to the consensus estimate of $6.13 [2] - The company anticipates Prologis Share Average Occupancy to be between 94.75% and 95.75% [2] Stock Performance and Analyst Ratings - Following the earnings announcement, Prologis shares fell 1.8% to $128.79 [2] - Analysts have adjusted their price targets: Argus Research raised the target from $128 to $135, UBS from $144 to $148, and Evercore ISI Group from $118 to $121 [3]

Core Insights - Prologis, Inc. is a leading global logistics real estate company specializing in high-quality warehouses and distribution centers, playing a crucial role in the logistics and real estate market [1] Financial Performance - Prologis reported earnings per share (EPS) of $1.55, surpassing the estimated $1.44, indicating strong financial performance driven by increased demand for warehouses [2][6] - The company's revenue reached approximately $2.25 billion, exceeding the estimated $2.09 billion, reflecting a positive shift in the logistics and real estate market [2][6] - Core funds from operations (FFO) per share for Q4 2025 was $1.44, aligning with the Zacks Consensus Estimate but declining from $1.50 per share in the previous year [3] Market Trends - There has been a resurgence in demand for warehouses, leading to an increase in fourth-quarter revenue, following a prolonged period of weakness in the sector [4] - Rental revenues increased to $2.09 billion from $1.94 billion in the same quarter the previous year, although this was below the Zacks Consensus Estimate of $2.17 billion [3] Future Outlook - Prologis issued a 2026 core FFO guidance of $6.00 to $6.20, anticipating steady occupancy and mid-single-digit net operating income (NOI) growth [5] - The company signed a record 228 million square feet of leases throughout 2025, positioning it with strong momentum for 2026 [5][6] - The CEO emphasized the company's focus on integrating logistics, digital infrastructure, and energy on a global scale to meet customer demand [5]

Core Insights - Prologis reported revenue of $2.09 billion for Q4 2025, an 8% year-over-year increase, with EPS of $1.49 compared to $1.37 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $2.17 billion, resulting in a surprise of -3.54%, while the EPS exceeded expectations by 3.6% [1] Financial Performance Metrics - Average occupancy rate was 95.2%, surpassing the estimated 94.9% by analysts [4] - Strategic capital revenues were reported at $153.7 million, exceeding the average estimate of $142.86 million, but showing a year-over-year decline of 39.3% [4] - Development management and other revenues were $6.9 million, slightly below the average estimate of $7.11 million, reflecting a year-over-year decrease of 29.2% [4] - Rental revenues matched the two-analyst average estimate of $2.1 billion, with a year-over-year increase of 8% [4] - Net earnings per share (diluted) were reported at $1.49, significantly higher than the average estimate of $0.85 [4] Stock Performance - Prologis shares have returned +2.4% over the past month, outperforming the Zacks S&P 500 composite, which saw a -0.4% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]