Research
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.
$PLD