Prologis, Inc. (PLD)
Prologis is the largest owner and operator of logistics and warehouse real estate, leasing space near major population and transport hubs. Its portfolio is a direct beneficiary of e-commerce and supply-chain investment.
PLD vs REG: how the two businesses compare
- Bigger business: PLD, with $8.8B of yearly revenue, about 5.7× REG's $1.6B.
- More profitable: PLD keeps 38 cents of each sales dollar as profit, against 34 cents at REG.
- More cash from each sale: PLD turns 57 cents of each sales dollar into operating cash flow, against 53 cents at REG.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Prologis (PLD) is the larger business by reported revenue: $8.8B in its fiscal year ended Dec 2025, about 5.7× REG's $1.6B (fiscal year ended Dec 2025). PLD's net margin was 37.9% and REG's 34.0%. Both file with the SEC under the same industry code, SIC 6798 (Real Estate Investment Trusts).
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Real Estate
- Real Estate Investment Trusts
- Same classification
- December 31
- Same calendar
- Feb 13, 2026
PLD vs REG: quick comparison
| Company fact | PLD | REG |
|---|---|---|
| Company | Prologis, Inc. | Regency Centers Corporation |
| Exchange | NYSE | NASDAQ |
| Headquarters | San Francisco, California | — |
| Founded | 1983 | — |
| SEC industry | Real Estate Investment Trusts | Real Estate Investment Trusts |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-13 | 10-K · 2026-02-13 |
PLD vs REG: audited financials
- Scale: PLD's $8.8B of revenue is about 5.7× REG's $1.6B.
- Net margin: PLD kept 37.9% of revenue as net income versus 34.0% at REG.
- Cash flow: operating cash flow is left out of this reading because lending, deposit, and trading balances run through it at banks, brokers, and insurers, so it does not measure earnings quality the way it does for an operating company.
- Periods: both fiscal years end on 2025-12-31, so these annual figures cover the same months.
| Metric | PLD | REG |
|---|---|---|
| Revenue | $8.8B2025-01-01 to 2025-12-31 · SEC filing | $1.6B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $3.3B2025-01-01 to 2025-12-31 · SEC filing | $527M2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $5.0B2025-01-01 to 2025-12-31 · SEC filing | $828M2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $3.562025-01-01 to 2025-12-31 · SEC filing | — |
| Net margin | 37.9%2025-01-01 to 2025-12-31 · SEC filing | 34.0%2025-01-01 to 2025-12-31 · SEC filing |
PLD: FY ending 2025-12-31 · REG: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where PLD and REG overlap, and where they don't
Overlap
- Same SEC industry: both report under SIC 6798, Real Estate Investment Trusts.
- Shared research theme: Rates & central banks.
- Same fiscal calendar: both fiscal years end December 31.
Differences
- Scale: PLD reported about 5.7× the annual revenue of REG.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Regency Centers Corporation (REG)
Regency Centers owns and develops grocery-anchored neighborhood shopping centers.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves PLD
We have not yet published a company-specific driver list for PLD. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-13.
What moves REG
We have not yet published a company-specific driver list for REG. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-13.
The investment question
You now know PLD reports about 5.7× REG's revenue, and PLD keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to rates & central banks, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 18 matched transaction rows for PLD and 2 matched transaction rows for REG. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
PLD primary filings
REG primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving PLD or REG
PLD vs REG FAQs
Are PLD and REG direct competitors?
Prologis and Regency Centers share the SEC industry classification “Real Estate Investment Trusts.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Is PLD or REG the bigger company by revenue?
Prologis (PLD) is the larger business by reported revenue: $8.8B in its fiscal year ended Dec 2025, about 5.7× REG's $1.6B (fiscal year ended Dec 2025). PLD's net margin was 37.9% and REG's 34.0%. Both file with the SEC under the same industry code, SIC 6798 (Real Estate Investment Trusts). Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, PLD or REG?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this PLD vs REG comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Prologis, Inc. and Regency Centers Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
PLD vs REG compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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