Financial Wire

Research Alert: Pld Q1 Results In Line As Data Center Development Activity Accelerates

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

PLD reported strong Q1 results with revenue of $2.30B (+6.9% Y/Y) and rental revenue of $2.13B, beating consensus by $7M. Q1 core FFO of $1.50 (+5.6% Y/Y) exceeded the $1.49 estimate by $0.01, demonstrating solid operational execution. We continue to believe PLD is exceptionally well positioned to capitalize on sustained e-commerce growth and accelerating data center demand trends. Management raised core FFO guidance for FY 26 to $6.07-$6.23, representing a $0.05 increase at the midpoint from initial guidance. The company outlined robust capital expenditure plans, including development stabilizations of $2.25-$2.75B, development starts of $3.5-$4.5B (up $500M at midpoint), acquisitions of $1.0-$1.5B, and dispositions of $1.75-$2.25B. Same-store net effective rental growth guidance remained unchanged at 4.75%-5.50% for FY 26, reflecting management's confidence in underlying demand fundamentals and PLD's market-leading portfolio quality.

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