PLD Prologis, Inc. Common Stock
NYSE · Real Estate · View on SEC EDGAR ↗ 10-K/10-Q Jul 29, 2026PLD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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About Prologis, Inc. Common Stock Company overview from Wikipedia
Prologis, Inc. is a real estate investment trust headquartered in San Francisco, California that invests in logistics facilities. The company was formed through the merger of AMB Property Corporation and Prologis in June 2011, which made Prologis the largest industrial real estate company in the world. As of 2025, the company operates more than 15,000 land acres and over 6,000 buildings comprising about 1.3 billion square feet in 20 countries across North America, Latin America, Europe, and Asia. According to The Economist, its business strategy is focused on warehouses that are located close to huge urban areas where land is scarce. It serves about 6,600 tenants. Prologis began to expand its non-real estate business, Essentials, in 2018, offering customers solar power, racking systems, forklifts, generators, EV charging infrastructure, and other logistics tech equipment for purchase.
History
AMB, the earliest predecessor of Prologis, was formed in 1984. In its present form, Prologis was created in 2011 through the merger of AMB and ProLogis, both multinational real estate companies based in the United States.
1983 founding and early history
In 1983, Hamid Moghadam and Doug Abbey founded Abbey, Moghadam and Company, an investment manager serving institutions. T. Robert Burke joined the company in 1984, establishing AMB Property Corporation, investors in office, industrial and community shopping centers on behalf of large institutional investors. During the savings and loan crisis, the company avoided significant financial repercussions by investing in industrial parks and shopping centers, and began to exit the office market in 1987. AMB launched its first private equity fund in 1989, which focused on industrial and retail properties.
In late 1997, AMB became a public company via an initial public offering, with more than US$2.8 billion under management. In 1999, the company sold its retail portfolio to focus solely on the industrial sector, then made its first overseas investment in 2002, developing a facility for Procter & Gamble. That year, AMB initiated an international expansion program focused on buying and developing distribution facilities near global trade hubs, particularly in growth markets such as Latin America, Asia, and Europe. AMB added an internal development division in 2004 and, by 2011, was expanding its operations in China and Brazil.
Creation of Prologis legacy company SCI and international expansion
Real Estate entrepreneur William Sanders formed Security Capital Industrial Trust (SCI), a legacy company of Prologis, in 1991, and it became a public company via an IPO in 1994.
ProLogis, Inc. (then with a capitalized L) was incorporated on November 24, 1997 under the leadership of K. Dane Brooksher, a former KPMG senior executive.
SCI officially changed its name to ProLogis Trust in July 1998, then active in 84 markets in 12 countries, with a market capitalization of nearly $5 billion. In November 1998, ProLogis Trust acquired Meridian Industrial Trust for $862.5 million in stock, and was the largest owner of industrial and warehouse properties in the U.S. ProLogis Trust formed its first property funds in 1999 and entered the Japanese market in 2001, the same year it shortened its name to ProLogis. In 2003, ProLogis was added to the S&P 500 Index and entered the Chinese market, forming its first joint venture in China with Suzhou Logistics Center Co. Ltd. In 2004, the company acquired Keystone Industrial Trust for $1.6 billion. Brooksher retired as chairman and CEO on December 31, 2004.
In 2005, Prologis was headquartered in Aurora, Colorado, and acquired Catellus Development Corporation for $3.6 billion, later selling a portfolio of those assets with rights to the Catellus name to TPG Capital, in 2011, for $505 million.
In 2006, ProLogis became a Fortune 1000 company and the ProLogis European Properties Fund became a public company. Following aggressive expansion and heavy borrowing, ProLogis' CEO Jeffrey Schwartz was replaced by Walter Rakowich in 2008, who implemented cost-cutting efforts, raising capital and selling assets. In December 2008, ProLogis sold a portfolio of assets to the Government of Singapore Investment Corporation, with which it formed Global Logistic Properties.
The company sold its China operations and some of its Japanese interests to GIC Private Limited for $1.3 billion in 2009. That August, ProLogis secured financing from Deutsche Pfandbriefbank and an unidentified German bank for two of its funds. The Blackstone Group acquired a portfolio of assets from the company in late 2010 for $1 billion.
2011 merger to present
In March 2011, before the merger with ProLogis, AMB Property formed a €470 million joint venture with Allianz Real Estate. Agreed to in January 2011, AMB Property Corporation contracted to buy the larger ProLogis for $8.7 billion, with the new entity named Prologis. Prologis would then be based in San Francisco, AMB's hometown, and maintain an office in Denver, Colorado, where ProLogis was based.
Completed in June 2011, the merger was one of the biggest real estate deals since the Great Recession, and created the largest industrial real estate company in the world. With a total market value estimated at $24 billion, the new Prologis had around $46 billion in assets under management and logistics and distribution facilities in North America, Europe, Asia and South America. AMB CEO Hamid R. Moghadam and ProLogis CEO Walter Rakowich were appointed as the new company's co-chiefs, with Moghadam becoming the sole CEO in 2013.
In February 2012, the company sold a 3.5 million square foot portfolio in the United Kingdom to The Blackstone Group for $335 million.
On February 14, 2013, Nippon Prologis REIT, Inc. (NPR), a Japanese real estate investment trust formed by Prologis, completed an IPO on the Tokyo Stock Exchange. In March 2013, Prologis formed the Prologis European Logistics Partners Sarl joint venture with Norges Bank Investment Management for US$3.1 billion. In August 2013, in partnership with The Blackstone Group the company acquired a 17 million square foot portfolio for $960 million from Lehman Brothers. In 2013, Prologis announced plans for further expansion in Japan, its second largest market, after the United States.
In 2014, the company completed the spin-off of FIBRA Prologis, its Mexican affiliate (also known as Prologis Property Mexico SA), raising about 7 billion pesos (US$541 million) and sold a 59-property portfolio to TPG for $375 million.
Prologis had reduced its number of managed funds from 23 to 11 by the spring of 2015, and was managing $29 billion in real-estate assets. That quarter, the company sold a Silicon Valley industrial park to Facebook, Inc. With corporate headquarters remaining in San Francisco, that April, Prologis announced a plan to move offices from east Denver, Colorado, to a new building in downtown Denver in 2017. That June, Prologis partnered with Norges Bank Investment Management to buy KTR Capital Partners for $5.9 billion, expanding its real estate portfolio in the U.S. through the Prologis U.S. Logistics Venture. In October 2015, it acquired Morris Realty Associates' portfolio of logistics and retail properties in the U.S. for $820 million, selling off the retail assets to an affiliate of The Blackstone Group for $374 million.
Prologis formed Prologis Ventures, its venture capital arm, in March 2016, making 20 investments by late 2019. and invested over $250 million in about 50 early- and growth-stage companies by 2024.
By late 2016, Prologis had built large multistory warehouses in Japan, Singapore and China. The company began construction on a three-floor warehouse in Seattle, Washington, in November 2016, which was the first multi-story warehouse in the country. The following month, Prologis also outlined plans to build a three-story warehouse in San Francisco. That December, Prologis received two 2016 Eurobuild CEE Awards.
Acquisitions include DCT Industrial Trust for $8.5 billion in August 2018, Liberty Property Trust for $13 billion in January 2020, and, the following month, Industrial Property Trust for $4 billion. In April 2021, the company acquired Hilltop Mall in Richmond, California for $117 million, then, in June 2022, the land below California's Great America in Santa Clara, California from Cedar Fair, which leased the land back with plans to close the amusement park by 2033. Prologis acquired competitor Duke Realty in October 2022, for $23 billion, completing the largest commercial real estate transaction in the U.S. since the onset of the COVID-19 pandemic. The following June, it acquired a further 14 million square feet of industrial property from The Blackstone Group for $3.1 billion.
Prologis had become the first logistics REIT with an approved science-based carbon-emissions target in 2018; in June 2022, the Science Based Targets initiative validated a commitment by Prologis to reach net-zero emissions by 2040. In 2020, Prologis completed construction of the world's first industrial building to receive Zero Carbon Certification from the International Living Future Institute (ILFI) in Eindhoven, Netherlands. In 2024, Prologis built North America’s largest heavy-duty truck charging hub, powered by a microgrid. The Denker Avenue hub is located in Torrance, California. That November, Prologis was ranked second in the nation for on-site solar generation by the Solar Energy Industries Association (SEIA) Solar Means Business Report.
Moghadam became executive chairman, appointing Dan Letter as CEO, on January 1, 2026.
Market research
Since 2016, the company has published white papers and its own market research, including the quarterly Industrial Business Indicator and the annual Prologis Logistics Rent Index.
In partnership with Oxford Economic Papers, the company determined that, in 2022, $2.7 trillion of goods either produced or sold worldwide passed through Prologis facilities, representing 2.8% of the global GDP with an economic impact of $300 billion.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | PLD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 28.25Y avg ≈34.4 | ≈34.4 | 26.1 | Pricier | |
| P/S (TTM) | 12.85Y avg ≈16.9 | ≈16.9 | 8.7 | Overvalued | |
| P/B (MRQ) | 2.25Y avg ≈2.4 | ≈2.4 | 1.7 | Overvalued | |
| Price / Cash Flow | 23.55Y avg ≈26.7 | ≈26.7 | 16.0 | Overvalued | |
| Price / Tangible Book | 2.35Y avg ≈2.5 | ≈2.5 | · | · | |
| PEG Ratio | ≈2.3 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | PLD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 54.7%5Y avg ≈55.0% | ≈55.0% | 27.8% | Top tier | |
| EBITDA Margin | 49.6%5Y avg ≈55.0% | ≈55.0% | 35.0% | Top tier | |
| Pretax Margin (TTM) | 51.9%5Y avg ≈53.6% | ≈53.6% | 1.5% | Top tier | |
| Net Profit Margin (TTM) | 45.8%5Y avg ≈47.9% | ≈47.9% | 26.6% | Top tier | |
| ROA (TTM) | 4.2%5Y avg ≈4.1% | ≈4.1% | 3.7% | In line | |
| ROE (TTM) | 7.9%5Y avg ≈7.1% | ≈7.1% | 6.3% | In line | |
| ROIC | 7.8%5Y avg ≈7.5% | ≈7.5% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | PLD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Interest Coverage | 4.35Y avg ≈7.7 | ≈7.7 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | PLD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 7.2%5Y avg ≈15.3% | ≈15.3% | · | · | |
| Revenue CAGR 3Y | 13.7%5Y avg ≈18.5% | ≈18.5% | · | · | |
| Revenue CAGR 5Y | 14.6% | · | · | · | |
| EPS YoY | -11.2%5Y avg ≈18.4% | ≈18.4% | · | · | |
| Net Income YoY | -10.8%5Y avg ≈23.0% | ≈23.0% | · | · | |
| EPS CAGR 3Y | -5.7%5Y avg ≈4.2% | ≈4.2% | · | · | |
| EPS CAGR 5Y | 12.1% | · | · | · | |
| Net Income CAGR 3Y | -0.36%5Y avg ≈11.8% | ≈11.8% | · | · | |
| Net Income CAGR 5Y | 17.6% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | PLD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.1 | ≈0.1 | 0.1 | Weak | |
| Revenue / Employee | ≈$3.1M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 16, 2026 | $1.07 | USD | ≈3.2% |
| Jun 16, 2026 | $1.07 | USD | ≈2.8% |
| Mar 17, 2026 | $1.07 | USD | ≈3.1% |
| Dec 16, 2025 | $1.01 | USD | ≈3.2% |
| Sep 16, 2025 | $1.01 | USD | ≈3.5% |
| Jun 17, 2025 | $1.01 | USD | ≈3.7% |
| Mar 18, 2025 | $1.01 | USD | ≈3.5% |
| Dec 16, 2024 | $0.96 | USD | ≈3.5% |
| Sep 16, 2024 | $0.96 | USD | ≈2.9% |
| Jun 17, 2024 | $0.96 | USD | ≈3.3% |
| Mar 15, 2024 | $0.96 | USD | ≈2.8% |
| Dec 15, 2023 | $0.87 | USD | ≈2.6% |
| Sep 15, 2023 | $0.87 | USD | ≈2.8% |
| Jun 15, 2023 | $0.87 | USD | ≈2.7% |
| Mar 16, 2023 | $0.87 | USD | ≈2.7% |
| Dec 16, 2022 | $0.79 | USD | ≈2.8% |
| Sep 14, 2022 | $0.79 | USD | ≈2.5% |
| Jun 15, 2022 | $0.79 | USD | ≈2.5% |
| Mar 17, 2022 | $0.79 | USD | ≈1.7% |
| Dec 13, 2021 | $0.63 | USD | ≈1.6% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| Sept. 30, 2026 | Oct 15, 2026 | $0.86 | $0.82 | 5.1% |
| June 30, 2026 | Jul 16, 2026 | $1.13 | $0.80 | 41.6% |
| March 31, 2026 | $1.05 | $0.82 | 28.3% | |
| Dec. 31, 2025 | $1.49 | $0.68 | 117.6% | |
| Sept. 30, 2025 | $0.82 | $0.67 | 22.6% | |
| June 30, 2025 | $0.61 | $0.64 | -4.7% | |
| March 31, 2025 | $0.63 | $0.61 | 3.3% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.79B | $8.20B | $8.02B | $5.97B | $4.76B | $4.44B | $3.33B | $2.80B | $2.62B | $2.53B | |
| SG&A Expense | $469M | $419M | $390M | $331M | $293M | $275M | $267M | $239M | $231M | $222M | |
| Operating Expenses | $-2.28B | $-2.10B | $-2.06B | $-1.55B | · | · | · | $1.96B | $1.85B | $1.86B | |
| Operating Income | $4.36B | $4.42B | $3.71B | $3.47B | $3.21B | $2.12B | $1.85B | $1.69B | $1.95B | $668M | |
| Interest Expense | $1.00B | $864M | $641M | $309M | $266M | $315M | $240M | $229M | $274M | $303M | |
| Other Non-op | $-589M | $-301M | $-244M | $223M | $116M | $-372M | $24M | $15M | $14M | $8M | |
| Pretax Income | $3.77B | $4.11B | $3.46B | $3.69B | $3.32B | $1.75B | $1.78B | $1.89B | $1.82B | $1.35B | |
| Income Tax | $204M | $167M | $211M | $135M | $174M | $130M | $75M | $63M | $55M | $55M | |
| Net Income | $3.33B | $3.73B | $3.06B | $3.36B | $2.94B | $1.48B | $1.57B | $1.65B | $1.65B | $1.21B | |
| EPS (Basic) | $3.58 | $4.02 | $3.30 | $4.28 | $3.97 | $2.02 | $2.48 | $2.90 | $3.10 | $2.29 | |
| EPS (Diluted) | $3.56 | $4.01 | $3.29 | $4.25 | $3.94 | $2.01 | $2.46 | $2.87 | $3.06 | $2.27 | |
| Shares (Basic) | 928,473,000 | 926,172,000 | 924,351,000 | 785,675,000 | 739,363,000 | 728,323,000 | 630,580,000 | 567,367,000 | 530,400,000 | 526,103,000 | |
| Shares (Diluted) | 956,832,000 | 953,590,000 | 951,791,000 | 811,608,000 | 764,762,000 | 754,414,000 | 654,903,000 | 590,239,000 | 552,300,000 | 546,666,000 | |
| EBITDA | $4.36B | $4.42B | $3.71B | $3.47B | $3.21B | $2.12B | $1.85B | $847M | $771M | $668M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.15B | $1.32B | $530M | $278M | $556M | $598M | $1.09B | $344M | $447M | $807M | |
| PP&E (Net) | $222M | $212M | $208M | $120M | $118M | $118M | $107M | $112M | · | · | |
| Intangibles | $1.50B | $1.56B | $1.68B | $1.73B | $989M | $1.05B | $671M | $755M | $468M | $520M | |
| Total Assets | $98.72B | $95.33B | $93.02B | $87.90B | $58.49B | $56.07B | $40.03B | $38.42B | $29.48B | $30.25B | |
| Deferred Tax | $156M | $141M | $119M | $100M | $75M | $86M | $66M | $60M | $57M | $69M | |
| Total Liabilities | $40.97B | $36.71B | $35.20B | $30.03B | $20.74B | $19.74B | $13.96B | $12.62B | $10.78B | $11.79B | |
| Long-term Debt | $35.04B | $30.88B | $29.00B | $23.88B | $215M | $16.85B | $11.91B | $11.09B | $9.41B | $10.61B | |
| Common Stock | $9M | $9M | $9M | $9M | $7M | $7M | $6M | $6M | $5M | $5M | |
| Paid-in Capital | $54.70B | $54.46B | $54.25B | $54.07B | $35.56B | $35.49B | $25.72B | $25.69B | $19.36B | $19.46B | |
| Retained Earnings | $-902M | $-466M | $-627M | $-458M | $-1.33B | $-2.39B | $-2.15B | $-2.38B | $-2.90B | $-3.61B | |
| AOCI | $-676M | $-120M | $-514M | $-444M | $-878M | $-1.19B | $-990M | $-1.08B | $-902M | $-937M | |
| Stockholders' Equity | $53.19B | $53.95B | $53.18B | $53.24B | $33.43B | $31.97B | $22.65B | $22.30B | $15.63B | $14.99B | |
| Liabilities + Equity | $98.72B | $95.33B | $93.02B | $87.90B | $58.49B | $56.07B | $40.03B | $38.42B | $29.48B | $30.25B | |
| Shares Outstanding | 929,153,000 | 926,283,000 | 924,391,000 | 923,142,000 | 739,827,000 | 739,381,000 | 631,797,000 | 629,616,000 | 532,186,000 | 528,671,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2.63B | $2.58B | $2.48B | $1.81B | $1.58B | $1.56B | $1.14B | $947M | $879M | $931M | |
| Stock-based Comp | $185M | $232M | $268M | $175M | $113M | $110M | $98M | $76M | $77M | $60M | |
| Deferred Tax | $4M | $21M | $18M | $13M | $1M | $744.0K | $12M | $1M | $-5M | $-6M | |
| Operating Cash Flow | $5.01B | $4.91B | $5.37B | $4.13B | $3.00B | $2.94B | $2.26B | $1.80B | $1.69B | $1.42B | |
| Investing Cash Flow | $-3.63B | $-3.10B | $-6.42B | $-4.50B | $-1.99B | $-3.07B | $-685M | $-664M | $543M | $1.25B | |
| Debt Issued | · | · | · | · | · | · | · | $4.90B | $2.42B | $1.37B | |
| Net Debt Issued | · | · | · | · | · | · | · | $4.90B | $2.42B | $1.37B | |
| Dividends Paid | $3.76B | $3.57B | $3.23B | $2.49B | $1.87B | $1.72B | $1.35B | $1.12B | $943M | $893M | |
| Financing Cash Flow | $-1.56B | $-1000M | $1.32B | $116M | $-1.01B | $-372M | $-840M | $-1.23B | $-2.61B | $-2.13B | |
| Net Change in Cash | $-173M | $788M | $252M | $-278M | $-42M | $-491M | $745M | $-103M | $-360M | $543M | |
| Taxes Paid | $143M | $130M | $149M | $130M | $149M | $101M | $62M | $60M | $47M | $29M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 49.6% | 53.8% | 46.2% | 58.1% | 67.4% | 47.7% | 55.5% | 30.2% | · | · | |
| Net Margin | 37.9% | 45.5% | 38.1% | 56.3% | 61.8% | 33.4% | 47.2% | 58.8% | · | · | |
| Pretax Margin | 42.9% | 50.2% | 43.2% | 61.8% | 69.8% | 39.4% | 53.3% | 67.3% | · | · | |
| EBITDA Margin | 49.6% | 53.8% | 46.2% | 58.1% | 67.4% | 47.7% | 55.5% | 30.2% | · | · | |
| ROA | 3.4% | 4.0% | 3.4% | 4.6% | 5.1% | 3.1% | 4.0% | 4.9% | 5.6% | 3.9% | |
| ROE | 6.2% | 7.0% | 5.8% | 7.8% | 9.0% | 5.4% | 7.0% | 8.7% | 10.8% | 8.2% | |
| ROIC | 7.8% | 7.8% | 6.6% | 6.3% | 9.1% | 6.1% | 7.8% | 3.7% | 4.8% | 4.3% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | 4.3 | 5.1 | 5.8 | 11.2 | 12.0 | 6.7 | 7.7 | 3.7 | 2.8 | 2.2 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $57.25 | $58.24 | $57.53 | $57.67 | $45.18 | $43.24 | $35.86 | $35.42 | $29.37 | $28.36 | |
| Revenue / Share | $9.19 | $8.60 | $8.43 | $7.36 | $6.22 | $5.88 | $5.09 | $4.75 | · | · | |
| Cash Flow / Share | $5.23 | $5.15 | $5.65 | $5.08 | $3.92 | $3.89 | $3.46 | $3.06 | $3.05 | $2.59 | |
| Cash / Share | $1.23 | $1.42 | $0.57 | $0.30 | $0.75 | $0.81 | $1.72 | $0.55 | $0.84 | $1.53 | |
| Dividend / Share | $0.03 | $0.01 | $0.00 | $0.02 | $0.00 | $0.00 | $0.00 | $0.03 | $0.01 | $0.15 | |
| Dividend Paid / Share | $4.04 | $3.84 | $3.48 | $3.16 | $2.52 | $2.32 | $2.12 | $1.92 | $1.76 | $1.68 | |
| EPS (TTM) | $3.56 | $4.01 | $3.29 | $4.25 | $3.94 | $2.01 | $2.46 | $2.87 | $3.06 | $2.27 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 7.2% | 2.2% | 34.3% | 25.5% | 7.2% | · | · | · | · | · | |
| Revenue CAGR 3Y | 13.7% | 19.9% | 21.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 14.6% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -11.2% | 21.9% | -22.6% | 7.9% | 96.0% | · | · | · | · | · | |
| EPS CAGR 3Y | -5.7% | 0.59% | 17.8% | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 12.1% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -10.8% | 22.0% | -9.1% | 14.5% | 98.4% | · | · | · | · | · | |
| Net Income CAGR 3Y | -0.36% | 8.3% | 27.3% | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 17.6% | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 16.9% | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $8.79B | $8.20B | $8.02B | $5.97B | $4.76B | $4.44B | $3.33B | $2.80B | $2.62B | $2.53B | |
| Net Income TTM | $3.33B | $3.73B | $3.06B | $3.36B | $2.94B | $1.48B | $1.57B | $1.65B | $1.65B | $1.21B | |
| Market Cap | $118.62B | $97.91B | $123.22B | $104.07B | $124.56B | $73.69B | $56.32B | $36.97B | $34.33B | $27.91B | |
| P/E | 35.9 | 26.4 | 40.5 | 26.5 | 42.7 | 49.6 | 36.2 | 20.5 | 21.1 | 23.3 | |
| P/S | 13.5 | 11.9 | 15.4 | 17.4 | 26.2 | 16.6 | 16.9 | 13.2 | 13.1 | 11.0 | |
| P/B | 2.2 | 1.8 | 2.3 | 2.0 | 3.7 | 2.3 | 2.5 | 1.7 | 2.2 | 1.9 | |
| P / Tangible Book | 2.3 | 1.9 | 2.4 | 2.0 | 3.8 | 2.4 | · | · | · | · | |
| P / Cash Flow | 23.7 | 19.9 | 22.9 | 25.2 | 41.6 | 25.1 | 24.9 | 20.5 | 20.3 | 19.7 | |
| Dividend Yield | 3.2% | 3.6% | 2.6% | 2.4% | 1.5% | 2.3% | 2.4% | 3.0% | 2.8% | 3.2% | |
| Earnings Yield | 2.8% | 3.8% | 2.5% | 3.8% | 2.3% | 2.0% | 2.8% | 4.9% | 4.7% | 4.3% | |
| Payout Ratio | 113.1% | 95.7% | 105.5% | 74.1% | 63.7% | 116.3% | 85.5% | 68.1% | 57.1% | 73.8% | |
| Annual Payout | $3.76B | $3.57B | $3.23B | $2.49B | $1.87B | $1.72B | $1.35B | $1.12B | $943M | $893M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.43B | $2.30B | $2.25B | $2.21B | $2.18B | $2.14B | $2.20B | $2.04B | $2.01B | $1.96B | $1.89B | $1.91B | $2.45B | $1.77B | $1.75B | $1.75B | |
| SG&A Expense | $130M | $127M | $137M | $111M | $107M | $115M | $103M | $98M | $107M | $111M | $98M | $97M | $96M | $100M | $85M | $88M | |
| Operating Expenses | $647M | $612M | $-3.97B | $563M | $565M | $559M | $-3.68B | $504M | $527M | $545M | · | · | · | · | · | · | |
| Operating Income | $1.25B | $1.21B | $1.63B | $940M | $913M | $878M | $1.42B | $1.25B | $1.02B | $720M | $835M | $882M | $1.41B | $579M | $813M | $915M | |
| Interest Expense | · | · | · | · | · | · | · | · | $208M | $193M | $174M | $181M | $150M | $136M | $121M | $64M | |
| Other Non-op | $-19M | $-118M | $-62M | $-64M | $-267M | $-196M | $8M | $-183M | $-69M | $-57M | $-100M | $-42M | $-53M | $-48M | $-176M | $193M | |
| Pretax Income | $1.23B | $1.09B | $1.56B | $876M | $646M | $683M | $1.43B | $1.07B | $955M | $664M | $734M | $840M | $1.36B | $531M | $638M | $1.11B | |
| Income Tax | $108M | $48M | $83M | $55M | $23M | $43M | $87M | $4M | $43M | $33M | $58M | $41M | $79M | $32M | $18M | $39M | |
| Net Income | $1.06B | $982M | $1.40B | $764M | $571M | $593M | $1.28B | $1.01B | $861M | $586M | $631M | $748M | $1.22B | $465M | $587M | $1.02B | |
| EPS (Basic) | $1.14 | $1.05 | $1.50 | $0.82 | $0.61 | $0.64 | $1.38 | $1.08 | $0.93 | $0.63 | $0.68 | $0.81 | $1.31 | $0.50 | $0.54 | $1.37 | |
| EPS (Diluted) | $1.13 | $1.05 | $1.49 | $0.82 | $0.61 | $0.63 | $1.37 | $1.08 | $0.92 | $0.63 | $0.68 | $0.80 | $1.31 | $0.50 | $0.53 | $1.36 | |
| Shares (Basic) | 933,092,000 | 931,261,000 | · | 928,851,000 | 928,476,000 | 927,338,000 | · | 926,427,000 | 926,276,000 | 925,322,000 | · | 924,395,000 | 924,191,000 | 923,888,000 | · | 740,719,000 | |
| Shares (Diluted) | 957,884,000 | 957,561,000 | · | 956,603,000 | 955,882,000 | 956,080,000 | · | 953,813,000 | 953,200,000 | 953,912,000 | · | 951,908,000 | 951,706,000 | 951,624,000 | · | 766,372,000 | |
| EBITDA | $1.25B | $1.21B | · | $940M | $913M | $878M | · | $1.25B | $1.02B | $720M | · | $882M | $1.41B | $579M | · | $915M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.77B | $861M | $1.15B | $1.19B | $1.07B | $671M | $1.32B | $781M | $598M | $501M | $530M | $741M | $531M | $523M | $278M | $636M | |
| PP&E (Net) | · | · | $222M | · | · | · | $212M | · | · | · | · | · | · | · | · | · | |
| Intangibles | · | · | $1.50B | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Assets | $101.01B | $98.13B | $98.72B | $98.34B | $97.72B | $95.99B | $95.33B | $95.91B | $93.54B | $93.31B | · | $91.95B | $92.39B | $88.52B | · | $60.95B | |
| Deferred Tax | · | · | $156M | · | · | · | $141M | · | · | · | · | · | · | · | · | · | |
| Total Liabilities | $42.89B | $40.18B | $40.97B | $41.13B | $40.41B | $37.92B | $36.71B | $38.24B | $35.61B | $35.51B | · | $33.69B | $34.31B | $31.06B | · | $21.34B | |
| Long-term Debt | $36.44B | $34.67B | $35.04B | $35.30B | $34.67B | $32.26B | $30.88B | $32.29B | $29.90B | $29.56B | · | $27.58B | $28.13B | $25.15B | · | $18.14B | |
| Common Stock | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | · | $9M | $9M | $9M | · | $7M | |
| Paid-in Capital | $54.91B | $54.83B | $54.70B | $54.66B | $54.60B | $54.56B | $54.46B | $54.42B | $54.39B | $54.34B | · | $54.20B | $54.12B | $54.06B | · | $35.61B | |
| Retained Earnings | $-860M | $-921M | $-902M | $-1.36B | $-1.18B | $-813M | $-466M | $-852M | $-965M | $-933M | · | $-449M | $-391M | $-800M | · | $-313M | |
| AOCI | $-398M | $-479M | $-676M | $-736M | $-766M | $-350M | $-120M | $-572M | $-156M | $-285M | · | $-186M | $-332M | $-496M | · | $-72M | |
| Stockholders' Equity | $53.73B | $53.50B | $53.19B | $52.64B | $52.73B | $53.47B | $53.95B | $53.07B | $53.35B | $53.19B | · | $53.64B | $53.47B | $52.84B | · | $35.29B | |
| Liabilities + Equity | $101.01B | $98.13B | $98.72B | $98.34B | $97.72B | $95.99B | $95.33B | $95.91B | $93.54B | $93.31B | · | $91.95B | $92.39B | $88.52B | · | $60.95B | |
| Shares Outstanding | 933,006,000 | 932,283,000 | 929,153,000 | 928,664,000 | 928,037,000 | 927,882,000 | 926,283,000 | 926,146,000 | 925,880,000 | 925,790,000 | · | 923,974,000 | 923,861,000 | 923,453,000 | · | 740,411,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $690M | $732M | $669M | $648M | $657M | $652M | $656M | $649M | $637M | $638M | $638M | $642M | $602M | $602M | $612M | $401M | |
| Stock-based Comp | $55M | $61M | $44M | $45M | $44M | $53M | $67M | $43M | $55M | $67M | $58M | $57M | $90M | $63M | $35M | $62M | |
| Deferred Tax | $19M | $190.0K | $7M | $-5M | $-4M | $7M | $19M | $-8M | $10M | $334.0K | $8M | $5M | $2M | $4M | $-11M | $6M | |
| Operating Cash Flow | $1.35B | $1.29B | $1.16B | $1.45B | $1.24B | $1.16B | $1.34B | $1.43B | $1.09B | $1.06B | $1.07B | $1.97B | $1.22B | $1.11B | $1.28B | $1.20B | |
| Investing Cash Flow | $-1.15B | $-401M | $25M | $-1.07B | $-1.03B | $-1.55B | $320M | $-1.71B | $-624M | $-1.08B | $-1.21B | $-699M | $-3.46B | $-1.05B | $-1.29B | $-1.25B | |
| Dividends Paid | $1.00B | $1.00B | $942M | $941M | $942M | $940M | $893M | $893M | $893M | $892M | $809M | $806M | $807M | $807M | $732M | $588M | |
| Financing Cash Flow | $708M | $-1.16B | $-1.22B | $-252M | $182M | $-276M | $-1.09B | $445M | $-356M | $2M | $-84M | $-1.05B | $2.28B | $172M | $-372M | $258M | |
| Net Change in Cash | $904M | $-285M | $-40M | $120M | $395M | $-647M | $538M | $183M | $98M | $-30M | $-210M | $210M | $9M | $244M | $-358M | $199M | |
| Taxes Paid | $79M | $51M | $37M | $14M | $48M | $44M | $25M | $18M | $28M | $58M | $27M | $41M | $35M | $46M | $45M | $17M |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 51.6% | 52.7% | · | 42.5% | 41.8% | 41.0% | · | 61.4% | 51.0% | 36.8% | · | 46.1% | 57.6% | 32.7% | · | 52.3% | |
| Net Margin | 43.8% | 42.7% | · | 34.5% | 26.2% | 27.7% | · | 49.4% | 42.9% | 29.9% | · | 39.1% | 49.6% | 26.3% | · | 58.0% | |
| Pretax Margin | 50.8% | 47.6% | · | 39.6% | 29.6% | 31.9% | · | 52.4% | 47.5% | 33.9% | · | 43.9% | 55.4% | 30.0% | · | 63.3% | |
| EBITDA Margin | 51.6% | 52.7% | · | 42.5% | 41.8% | 41.0% | · | 61.4% | 51.0% | 36.8% | · | 46.1% | 57.6% | 32.7% | · | 52.3% | |
| ROA | 1.1% | 1.0% | · | 0.79% | 0.60% | 0.63% | · | 1.1% | 0.93% | 0.64% | · | 0.98% | 1.6% | 0.63% | · | 1.7% | |
| ROE | 2.0% | 1.8% | · | 1.5% | 1.1% | 1.1% | · | 1.9% | 1.6% | 1.1% | · | 1.7% | 2.8% | 1.1% | · | 3.0% | |
| ROIC | 2.1% | 2.2% | · | 1.7% | 1.7% | 1.5% | · | 2.4% | 1.8% | 1.3% | · | 1.6% | 2.5% | 1.0% | · | 2.5% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | · | · | · | · | 4.9 | 3.7 | · | 4.9 | 9.4 | 4.3 | · | 14.3 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $57.58 | $57.39 | · | $56.68 | $56.82 | $57.62 | · | $57.30 | $57.62 | $57.45 | · | $58.05 | $57.87 | $57.21 | · | $47.67 | |
| Revenue / Share | $2.53 | $2.40 | · | $2.31 | $2.28 | $2.24 | · | $2.13 | $2.11 | $2.05 | · | $2.01 | $2.58 | $1.86 | · | $2.28 | |
| Cash Flow / Share | · | $1.35 | · | · | · | $1.21 | · | · | · | $1.11 | · | · | · | $1.17 | · | · | |
| Cash / Share | $1.89 | $0.92 | · | $1.28 | $1.15 | $0.72 | · | $0.84 | $0.65 | $0.54 | · | $0.80 | $0.57 | $0.57 | · | $0.86 | |
| Dividend Paid / Share | $1.07 | $1.07 | $1.01 | $1.01 | $1.01 | $1.01 | $0.96 | $0.96 | $0.96 | $0.96 | $0.87 | $0.87 | $0.87 | $0.87 | $0.79 | $0.79 | |
| EPS (TTM) | $4.49 | $3.97 | · | $3.43 | $3.69 | $4.00 | · | $3.31 | $3.03 | $3.42 | · | $3.14 | $3.70 | $3.21 | · | $5.39 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.19B | $8.95B | · | $8.74B | $8.56B | $8.38B | · | $7.89B | $7.77B | $8.21B | · | $7.89B | $7.72B | $6.52B | · | $5.50B | |
| Net Income TTM | $4.21B | $3.72B | · | $3.21B | $3.45B | $3.74B | · | $3.08B | $2.83B | $3.18B | · | $3.02B | $3.28B | $2.68B | · | $4.03B | |
| Market Cap | $126.39B | $123.23B | · | $106.35B | $97.56B | $103.73B | · | $116.95B | $103.99B | $120.56B | · | $103.68B | $113.29B | $115.22B | · | $75.23B | |
| P/E | 30.2 | 33.3 | · | 33.4 | 28.5 | 27.9 | · | 38.2 | 37.1 | 38.1 | · | 35.7 | 33.1 | 38.9 | · | 18.8 | |
| P/S | 13.8 | 13.8 | · | 12.2 | 11.4 | 12.4 | · | 14.8 | 13.4 | 14.7 | · | 13.1 | 14.7 | 17.7 | · | 13.7 | |
| P/B | 2.4 | 2.3 | · | 2.0 | 1.9 | 1.9 | · | 2.2 | 1.9 | 2.3 | · | 1.9 | 2.1 | 2.2 | · | 2.1 | |
| P / Tangible Book | 2.4 | 2.3 | · | 2.0 | 1.9 | 1.9 | · | 2.2 | 1.9 | 2.3 | · | 1.9 | 2.1 | 2.2 | · | 2.1 | |
| P / Cash Flow | · | 95.7 | · | · | · | 89.4 | · | · | · | 114.2 | · | · | · | 103.4 | · | · | |
| Dividend Yield | 3.1% | 3.1% | · | 3.5% | 3.8% | 3.5% | · | 3.0% | 3.3% | 2.8% | · | 3.0% | 2.6% | 2.4% | · | 3.0% | |
| Earnings Yield | 3.3% | 3.0% | · | 3.0% | 3.5% | 3.6% | · | 2.6% | 2.7% | 2.6% | · | 2.8% | 3.0% | 2.6% | · | 5.3% | |
| Payout Ratio | · | 101.9% | · | · | · | 158.5% | · | · | · | 152.3% | · | · | · | 173.6% | · | · | |
| Annual Payout | $3.89B | $3.83B | · | $3.72B | $3.67B | $3.62B | · | $3.49B | $3.40B | $3.31B | · | $3.15B | $2.93B | $2.71B | · | $2.23B |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $8.79B | $8.20B | $8.02B | $5.97B | $4.76B |
| Operating Margin % | 49.6% | 53.8% | 46.2% | 58.1% | 67.4% |
| Net Income | $3.33B | $3.73B | $3.06B | $3.36B | $2.94B |
| Diluted EPS | $3.56 | $4.01 | $3.29 | $4.25 | $3.94 |
Not enough fundamentals data to build this statement yet.
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 1,861 filers · $130.3B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 152 (-45 vs prior Q) | 80 (-24 vs prior Q) | 810 (+95 vs prior Q) | 558 (-23 vs prior Q) | +10.5M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $15,743,451,201 | 123,323,290 | 12.08% | Shares |
| BlackRock, Inc. | $14,006,587,090 | 103,392,538 | 10.75% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $8,250,724,893 | 60,904,443 | 6.33% | Shares |
| STATE STREET CORP | $7,574,820,358 | 55,915,113 | 5.81% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $7,485,501,871 | 55,255,790 | 5.74% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $3,222,849,670 | 23,889,351 | 2.47% | Shares |
| JPMORGAN CHASE & CO | $2,675,629,840 | 19,264,378 | 2.05% | Shares |
| APG Asset Management US Inc. | $2,638,438,344 | 19,286,830 | 2.02% | Shares |
| FMR LLC | $2,337,982,641 | 17,258,306 | 1.79% | Shares |
| Capital Research Global Investors | $2,156,110,902 | 15,915,752 | 1.65% | Shares |
| MORGAN STANLEY | $1,958,995,630 | 14,460,730 | 1.50% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $1,868,419,419 | 14,135,417 | 1.43% | Shares |
| NORTHERN TRUST CORP | $1,772,678,459 | 13,085,395 | 1.36% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,702,802,764 | 12,569,593 | 1.31% | Shares |
| NORGES BANK | $1,695,905,444 | 12,518,679 | 1.30% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,563,452,342 | 11,540,071 | 1.20% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $1,541,518,496 | 11,217,207 | 1.18% | Shares |
| Legal & General Group Plc | $1,473,964,813 | 10,880,378 | 1.13% | Shares |
| FRANKLIN RESOURCES INC | $1,442,716,609 | 10,649,713 | 1.11% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,427,255,903 | 10,535,587 | 1.10% | Shares |
| Nuveen, LLC | $1,425,129,385 | 10,519,889 | 1.09% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $1,380,922,659 | 10,193,516 | 1.06% | Shares |
| Invesco Ltd. | $1,357,811,623 | 10,022,970 | 1.04% | Shares |
| WELLS FARGO & COMPANY/MN | $1,302,328,681 | 9,613,411 | 1.00% | Shares |
| GOLDMAN SACHS GROUP INC | $1,280,123,505 | 9,449,498 | 0.98% | Shares |
| ROYAL BANK OF CANADA | $1,140,452,000 | 8,418,478 | 0.88% | Shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | $1,053,675,634 | 7,777,926 | 0.81% | Shares |
| DEUTSCHE BANK AG\ | $968,958,659 | 7,152,570 | 0.74% | Shares |
| Swedbank AB | $964,562,928 | 7,120,122 | 0.74% | Shares |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | $944,490,067 | 6,971,950 | 0.72% | Shares |
| AMERIPRISE FINANCIAL INC | $866,753,554 | 6,453,299 | 0.67% | Shares |
| Amundi | $858,064,948 | 6,333,985 | 0.66% | Shares |
| UBS Group AG | $811,830,852 | 5,992,698 | 0.62% | Shares |
| Bank of New York Mellon Corp | $742,842,949 | 5,483,450 | 0.57% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $718,210,869 | 5,301,623 | 0.55% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $709,205,229 | 5,235,146 | 0.54% | Shares |
| Daiwa Securities Group Inc. | $619,859,648 | 4,575,623 | 0.48% | Shares |
| PRUDENTIAL FINANCIAL INC | $594,078,759 | 4,385,316 | 0.46% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $584,759,235 | 4,316,522 | 0.45% | Shares |
| HSBC HOLDINGS PLC | $564,567,293 | 4,164,339 | 0.43% | Shares |
| FEDERATED HERMES, INC. | $531,147,390 | 3,920,775 | 0.41% | Shares |
| Capital International Investors | $520,792,062 | 3,844,335 | 0.40% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $509,492,510 | 3,760,925 | 0.39% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $505,844,149 | 3,734,005 | 0.39% | Shares |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO | $437,004,545 | 3,225,840 | 0.34% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $417,584,920 | 3,082,490 | 0.32% | Shares |
| BARCLAYS PLC | $417,439,561 | 3,081,417 | 0.32% | Shares |
| AMF Tjanstepension AB | $401,837,401 | 3,094,866 | 0.31% | Shares |
| Russell Investments Group, Ltd. | $398,458,579 | 2,936,396 | 0.31% | Shares |
| BANK OF MONTREAL /CAN/ | $391,576,222 | 2,890,501 | 0.30% | Shares |
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Undisclosed reporting person | April 26, 2002 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 47 insiders · 23 officers · 26 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Daniel Letter | Chief Executive Officer | July 14, 2026 A | · | 0 | 0 | $0 |
| Guy F Jaquier | CEO, Private Capital | June 17, 2013 J | 93,690 | 0 | 0 | $0 |
| Walter C Rakowich | Co-Chief Executive Officer | Dec. 31, 2012 M | 375,847 | 0 | 0 | $0 |
| Timothy D Arndt | Chief Financial Officer | July 14, 2026 A | 0 | 0 | 1 | $-539,550 |
| Thomas S Olinger | Chief Financial Officer | Feb. 25, 2022 A | 13,034 | 0 | 0 | $0 |
| William E Sullivan | Chief Financial Officer | May 11, 2012 M | 116,060 | 0 | 0 | $0 |
| Michael A Coke | CFO & Executive VP | May 1, 2007 F | 79,716 | 0 | 0 | $0 |
| John T Roberts JR | President, Private Capital | Feb. 10, 2009 A | 347,574 | 0 | 0 | $0 |
| Blake W Baird | President | Dec. 1, 2006 F | 285,241 | 0 | 0 | $0 |
| Carter Andrus | Chief Operating Officer | July 14, 2026 A | · | 0 | 0 | $0 |
| Gary E Anderson | Chief Operating Officer | Aug. 18, 2023 A | 21 | 0 | 0 | $0 |
| Trisha Burns | Chief Accounting Officer | July 14, 2026 A | · | 0 | 0 | $0 |
| Damon Austin | Chief Development Officer | July 14, 2026 A | · | 0 | 0 | $0 |
| Deborah K Briones | Chief Legal Officer/GC | July 14, 2026 A | · | 0 | 0 | $0 |
| Lori A Palazzolo | Chief Accounting Officer/MD | Jan. 20, 2026 A | 414 | 0 | 0 | $0 |
| Joseph Ghazal | Chief Investment Officer | May 3, 2025 M | 8,342 | 0 | 0 | $0 |
| Edward S Nekritz | Chief Legal Off./Gen. Counsel | Sept. 13, 2024 A | 170 | 0 | 0 | $0 |
| Michael S Curless | Chief Customer Officer | Jan. 17, 2023 A | 0 | 0 | 0 | $0 |
| Eugene F Reilly | Vice Chairman | Jan. 17, 2023 A | 7 | 0 | 0 | $0 |
| Nina A Tran | Chief Accounting Officer | Feb. 2, 2011 A | 32,241 | 0 | 0 | $0 |
| Bruce H Freedman | Executive VP | April 1, 2006 A | 136,242 | 0 | 0 | $0 |
| David S Fries | Executive VP | July 18, 2005 M | 132,813 | 0 | 0 | $0 |
| Luis A Belmonte | Executive VP | Aug. 25, 2004 X | 178,714 | 0 | 0 | $0 |
| Sarah A Slusser | Director | Sept. 30, 2026 A | 11 | 1 | 5 | $-11,237 |
| Guy A Metcalfe | Director | Sept. 30, 2026 A | · | 0 | 0 | $0 |
| Cristina Gabriela Bita | Director | Sept. 30, 2026 A | 11,023 | 0 | 2 | $-140,810 |
| Olivier Piani | Director | Sept. 30, 2026 A | 11,729 | 0 | 0 | $0 |
| James B. Connor | Director | Sept. 30, 2026 A | 1,984 | 0 | 1 | $-10,126,400 |
| Avid Modjtabai | Director | Sept. 30, 2026 A | 22,645 | 0 | 0 | $0 |
| David P Oconnor | Director | Sept. 30, 2026 A | 10,617 | 0 | 0 | $0 |
| Lydia H Kennard | Director | Sept. 30, 2026 A | 34,413 | 0 | 0 | $0 |
| George L Fotiades | Director | Sept. 30, 2026 A | 1,687 | 0 | 0 | $0 |
| Hamid Moghadam | Director | July 16, 2026 S | 969,089 | 0 | 1 | $-7,495,500 |
| Irving F Lyons III | Director | April 28, 2026 M | 43,825 | 0 | 0 | $0 |
| WEBB CARL B | Director | May 8, 2025 M | 119,786 | 0 | 0 | $0 |
| Jeffrey L Skelton | Director | May 9, 2024 M | 64,600 | 0 | 0 | $0 |
| ZOLLARS WILLIAM D | Director | May 4, 2023 M | 23,720 | 0 | 0 | $0 |
| Michael J Losh | Director | April 29, 2020 M | 75,657 | 0 | 0 | $0 |
| Philip L Hawkins | Director | Dec. 31, 2019 A | 35,511 | 0 | 0 | $0 |
| Christine Garvey | Director | May 3, 2017 M | 31,496 | 0 | 0 | $0 |
| Michael D Steuert | Director | April 29, 2015 M | 21,863 | 0 | 0 | $0 |
| David A Cole | Director | May 5, 2011 A | 48,900 | 0 | 0 | $0 |
| Thomas W Tusher | Director | May 5, 2011 A | 47,264 | 0 | 0 | $0 |
| Robert T Burke | Director | May 5, 2011 A | 222,081 | 0 | 0 | $0 |
| Frederick W Reid | Director | May 5, 2011 A | 20,044 | 0 | 0 | $0 |
| Afsaneh Mashayekhi Beschloss | Director | May 10, 2007 A | 5,192 | 0 | 0 | $0 |
| Caryl B Welborn | Director | May 20, 2004 A | 13,670 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 159 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| INDS · Pacer Funds Trust | 14.25% | 116,272 NS | July 31, 2026 | N-PORT |
| RITA · ETF Series Solutions | 12.50% | 7,535 NS | July 31, 2026 | N-PORT |
| JRE · Janus Detroit Street Trust | 10.76% | 3,130 NS | July 31, 2026 | N-PORT |
| FPRO · FIDELITY COVINGTON TRUST | 9.92% | 11,326 NS | July 31, 2026 | N-PORT |
| IYR · iShares Trust | 8.99% | 2,732,673 SH | Sept. 11, 2026 | Daily |
| PSR · Invesco Actively Managed Exchange-T… | 8.60% | 38,415 | Oct. 23, 2026 | Daily |
| ICF · iShares Trust | 8.02% | 1,177,002 SH | Sept. 11, 2026 | Daily |
| FREL · FIDELITY COVINGTON TRUST | 7.94% | 819,951 NS | July 31, 2026 | N-PORT |
| USRT · iShares Trust | 7.38% | 2,428,732 SH | Sept. 11, 2026 | Daily |
| REET · iShares Trust | 7.15% | 2,579,971 SH | Sept. 11, 2026 | Daily |
| DFAR · Dimensional ETF Trust | 6.79% | 836,128 NS | July 31, 2026 | N-PORT |
| RNTY · Tidal Trust II | 6.72% | 4,062 NS | July 31, 2026 | N-PORT |
| VNQ · VANGUARD SPECIALIZED FUNDS | 6.70% | 35,482,459 SH | Aug. 19, 2026 | Daily |
| DFGR · Dimensional ETF Trust | 6.61% | 1,765,117 NS | July 31, 2026 | N-PORT |
| DRN · Direxion Shares ETF Trust | 6.37% | 19,845 NS | July 31, 2026 | N-PORT |
| DPRE · Virtus ETF Trust II | 5.81% | 1,597 NS | July 31, 2026 | N-PORT |
| ERET · iShares Trust | 5.68% | 5,687 SH | Sept. 11, 2026 | Daily |
| ELCV · Strategy Shares | 5.43% | 94,278 NS | July 31, 2026 | N-PORT |
| GQRE · FlexShares Trust | 4.57% | 134,420 NS | July 31, 2026 | N-PORT |
| REAI · Tidal Trust I | 4.49% | 334 NS | July 31, 2026 | N-PORT |
| RSPR · Invesco Exchange-Traded Fund Trust | 3.16% | 20,993 | Oct. 23, 2026 | Daily |
| FDV · Federated Hermes ETF Trust | 2.97% | 180,561 NS | July 31, 2026 | N-PORT |
| PAYR · Federated Hermes ETF Trust | 2.86% | 11,281 NS | July 31, 2026 | N-PORT |
| PWS · Pacer Funds Trust | 2.25% | 3,739 NS | July 31, 2026 | N-PORT |
| PABU · iShares Trust | 2.01% | 374,017 SH | Sept. 11, 2026 | Daily |
| ESLV · Strategy Shares | 1.58% | 1,554 NS | July 31, 2026 | N-PORT |
| ASLV · ALLSPRING EXCHANGE-TRADED FUNDS TRU… | 1.50% | 22,703 NS | July 31, 2026 | N-PORT |
| FREI · Fidelity Securities Fund | 1.48% | 451,391 NS | July 31, 2026 | N-PORT |
| HGRO · ETF Opportunities Trust | 1.40% | 12,203 NS | July 31, 2026 | N-PORT |
| IQRA · New York Life Investments Active ET… | 1.29% | 614 NS | July 31, 2026 | N-PORT |
| ESLG · Strategy Shares | 1.26% | 2,024 NS | July 31, 2026 | N-PORT |
| NULV · Nushares ETF Trust | 1.24% | 187,974 NS | July 31, 2026 | N-PORT |
| ESUM · Strategy Shares | 1.21% | 15,221 NS | July 31, 2026 | N-PORT |
| FDVV · FIDELITY COVINGTON TRUST | 1.00% | 701,990 NS | July 31, 2026 | N-PORT |
| FEUS · FlexShares Trust | 0.85% | 6,600 NS | July 31, 2026 | N-PORT |
| HAPI · Harbor ETF Trust | 0.85% | 28,839 NS | July 31, 2026 | N-PORT |
| SPLV · Invesco Exchange-Traded Fund Trust … | 0.80% | 467,000 | Oct. 23, 2026 | Daily |
| QUAL · iShares Trust | 0.79% | 2,738,184 SH | Sept. 11, 2026 | Daily |
| NUDV · Nushares ETF Trust | 0.75% | 2,615 NS | July 31, 2026 | N-PORT |
| XOEF · iShares Trust | 0.72% | 1,192 SH | Sept. 11, 2026 | Daily |
| NULC · Nushares ETF Trust | 0.61% | 2,985 NS | July 31, 2026 | N-PORT |
| IIGD · Invesco Exchange-Traded Self-Indexe… | 0.61% | 162,000 | Oct. 23, 2026 | Daily |
| SPMO · Invesco Exchange-Traded Fund Trust … | 0.60% | 1,025,582 | Oct. 23, 2026 | Daily |
| MGV · VANGUARD WORLD FUND | 0.60% | 585,942 SH | Aug. 19, 2026 | Daily |
| JOYT · J.P. Morgan Exchange-Traded Fund Tr… | 0.59% | 3,997 NS | July 31, 2026 | N-PORT |
| VMAX · Lattice Strategies Trust | 0.53% | 1,804 NS | July 31, 2026 | N-PORT |
| FTLS · First Trust Exchange-Traded Fund III | 0.52% | 88,891 NS | July 31, 2026 | N-PORT |
| USXF · iShares Trust | 0.50% | 55,311 SH | Sept. 11, 2026 | Daily |
| ACVU · Hartford Funds Exchange-Traded Trust | 0.48% | 6,003 NS | July 31, 2026 | N-PORT |
| IWX · iShares Trust | 0.47% | 136,804 SH | Sept. 11, 2026 | Daily |
| VTV · VANGUARD INDEX FUNDS | 0.47% | 8,866,490 SH | Aug. 19, 2026 | Daily |
| MNZL · EA Series Trust | 0.47% | 800 NS | July 31, 2026 | N-PORT |
| VEGN · ETF Series Solutions | 0.45% | 5,505 NS | July 31, 2026 | N-PORT |
| VOOV · VANGUARD ADMIRAL FUNDS | 0.43% | 214,713 SH | Aug. 19, 2026 | Daily |
| IVE · iShares Trust | 0.43% | 1,574,513 SH | Sept. 11, 2026 | Daily |
| PFM · Invesco Exchange-Traded Fund Trust | 0.42% | 26,727 | Oct. 23, 2026 | Daily |
| EVUS · iShares Trust | 0.42% | 11,800 SH | Sept. 11, 2026 | Daily |
| IQSU · New York Life Investments ETF Trust | 0.41% | 9,202 NS | July 31, 2026 | N-PORT |
| IUSV · iShares Trust | 0.41% | 830,041 SH | Sept. 11, 2026 | Daily |
| CLSE · Trust for Professional Managers | 0.39% | 24,999 NS | Aug. 31, 2026 | N-PORT |
| USSG · DBX ETF Trust | 0.38% | 15,969 NS | Aug. 31, 2026 | N-PORT |
| FYEE · Fidelity Greenwood Street Trust | 0.38% | 5,688 NS | July 31, 2026 | N-PORT |
| ILCV · iShares Trust | 0.37% | 36,767 SH | Sept. 11, 2026 | Daily |
| SUSL · iShares Trust | 0.37% | 32,905 SH | Sept. 11, 2026 | Daily |
| DSI · iShares Trust | 0.35% | 142,498 SH | Sept. 11, 2026 | Daily |
| ACVF · ETF Opportunities Trust | 0.35% | 3,688 NS | July 31, 2026 | N-PORT |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.35% | 562,641 SH | Aug. 19, 2026 | Daily |
| IWD · iShares Trust | 0.34% | 2,104,300 SH | Sept. 11, 2026 | Daily |
| FDRR · FIDELITY COVINGTON TRUST | 0.33% | 16,920 NS | July 31, 2026 | N-PORT |
| GLBL · Pacer Funds Trust | 0.33% | 25 NS | July 31, 2026 | N-PORT |
| FVAL · FIDELITY COVINGTON TRUST | 0.32% | 29,881 NS | July 31, 2026 | N-PORT |
| SNPE · DBX ETF Trust | 0.32% | 68,203 NS | Aug. 31, 2026 | N-PORT |
| EGLE · Global X Funds | 0.31% | 47 NS | July 31, 2026 | N-PORT |
| FHEQ · Fidelity Greenwood Street Trust | 0.31% | 19,917 NS | July 31, 2026 | N-PORT |
| FQAL · FIDELITY COVINGTON TRUST | 0.30% | 28,857 NS | July 31, 2026 | N-PORT |
| ESGU · iShares Trust | 0.29% | 391,682 SH | Sept. 11, 2026 | Daily |
| FDMO · FIDELITY COVINGTON TRUST | 0.29% | 18,080 NS | July 31, 2026 | N-PORT |
| DYNF · BlackRock ETF Trust | 0.27% | 829,123 SH | Sept. 11, 2026 | Daily |
| DIVB · iShares Trust | 0.27% | 40,126 SH | Sept. 11, 2026 | Daily |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.25% | 347,000 | Oct. 23, 2026 | Daily |
| MGC · VANGUARD WORLD FUND | 0.24% | 186,401 SH | Aug. 19, 2026 | Daily |
| USCL · iShares Trust | 0.23% | 49,359 SH | Sept. 11, 2026 | Daily |
| QVML · Invesco Exchange-Traded Fund Trust … | 0.23% | 31,667 | Oct. 23, 2026 | Daily |
| TOPC · iShares Trust | 0.23% | 565 SH | Sept. 11, 2026 | Daily |
| CATH · Global X Funds | 0.23% | 20,546 NS | July 31, 2026 | N-PORT |
| CHRI · Global X Funds | 0.23% | 125 NS | July 31, 2026 | N-PORT |
| IWL · iShares Trust | 0.23% | 36,791 SH | Sept. 11, 2026 | Daily |
| ACIO · ETF Series Solutions | 0.22% | 36,348 NS | July 31, 2026 | N-PORT |
| ESGV · VANGUARD WORLD FUND | 0.22% | 210,724 SH | Aug. 19, 2026 | Daily |
| SPXD · DBX ETF Trust | 0.22% | 111 NS | Aug. 31, 2026 | N-PORT |
| XVV · iShares Trust | 0.22% | 10,908 SH | Sept. 11, 2026 | Daily |
| HEQQ · J.P. Morgan Exchange-Traded Fund Tr… | 0.22% | 449 NS | July 31, 2026 | N-PORT |
| ADME · ETF Series Solutions | 0.22% | 4,394 NS | July 31, 2026 | N-PORT |
| XYLD · Global X Funds | 0.21% | 47,409 NS | July 31, 2026 | N-PORT |
| XRMI · Global X Funds | 0.21% | 724 NS | July 31, 2026 | N-PORT |
| PTLC · Pacer Funds Trust | 0.21% | 47,189 NS | July 31, 2026 | N-PORT |
| BBUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.21% | 128,176 NS | July 31, 2026 | N-PORT |
| XTR · Global X Funds | 0.21% | 69 NS | July 31, 2026 | N-PORT |
| VOTE · TCW ETF Trust | 0.21% | 15,721 NS | July 31, 2026 | N-PORT |
| XCLR · Global X Funds | 0.21% | 51 NS | July 31, 2026 | N-PORT |
| XYLG · Global X Funds | 0.21% | 915 NS | July 31, 2026 | N-PORT |
| BKLC · BNY Mellon ETF Trust | 0.21% | 77,903 NS | July 31, 2026 | N-PORT |
| VOO · VANGUARD INDEX FUNDS | 0.20% | 24,219,441 SH | Aug. 19, 2026 | Daily |
| VV · VANGUARD INDEX FUNDS | 0.20% | 1,088,743 SH | Aug. 19, 2026 | Daily |
| TOV · EA Series Trust | 0.20% | 3,660 NS | July 31, 2026 | N-PORT |
| IVV · iShares Trust | 0.19% | 11,950,236 SH | Sept. 11, 2026 | Daily |
| VOXP · Advisors Series Trust | 0.19% | 78 NS | July 31, 2026 | N-PORT |
| ESG · FlexShares Trust | 0.19% | 1,770 NS | July 31, 2026 | N-PORT |
| EUSA · iShares, Inc. | 0.19% | 27,614 SH | Sept. 11, 2026 | Daily |
| SPUU · Direxion Shares ETF Trust | 0.19% | 3,518 NS | July 31, 2026 | N-PORT |
| QDPL · Pacer Funds Trust | 0.19% | 22,438 NS | July 31, 2026 | N-PORT |
| ILCB · iShares Trust | 0.19% | 18,076 SH | Sept. 11, 2026 | Daily |
| APUE · Trust for Professional Managers | 0.19% | 33,584 NS | Aug. 31, 2026 | N-PORT |
| PBP · Invesco Exchange-Traded Fund Trust | 0.18% | 5,698 | Oct. 23, 2026 | Daily |
| RSP · Invesco Exchange-Traded Fund Trust | 0.18% | 1,446,843 | Oct. 23, 2026 | Daily |
| IYY · iShares Trust | 0.18% | 40,664 SH | Sept. 11, 2026 | Daily |
| IWB · iShares Trust | 0.18% | 654,858 SH | Sept. 11, 2026 | Daily |
| PEVC · Pacer Funds Trust | 0.18% | 30 NS | July 31, 2026 | N-PORT |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.18% | 154,111 SH | Aug. 19, 2026 | Daily |
| PBUS · Invesco Exchange-Traded Fund Trust … | 0.18% | 149,111 | Oct. 23, 2026 | Daily |
| BSCS · Invesco Exchange-Traded Self-Indexe… | 0.17% | 6,102,000 | Oct. 20, 2026 | Daily |
| IWV · iShares Trust | 0.17% | 261,021 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.17% | 1,234,321 SH | Sept. 11, 2026 | Daily |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.17% | 5,679,000 | Oct. 23, 2026 | Daily |
| SUSA · iShares Trust | 0.17% | 51,488 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.17% | 29,599,227 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.17% | 78,429 SH | Aug. 19, 2026 | Daily |
| SIZE · iShares Trust | 0.17% | 5,382 SH | Sept. 11, 2026 | Daily |
| HCMT · Direxion Shares ETF Trust | 0.17% | 6,486 NS | July 31, 2026 | N-PORT |
| PRF · Invesco Exchange-Traded Fund Trust | 0.16% | 127,873 | Oct. 23, 2026 | Daily |
| SPXL · Direxion Shares ETF Trust | 0.16% | 72,888 NS | July 31, 2026 | N-PORT |
| PHDG · Invesco Actively Managed Exchange-T… | 0.15% | 749 | Oct. 23, 2026 | Daily |
| KOKU · DBX ETF Trust | 0.15% | 8,814 NS | Aug. 31, 2026 | N-PORT |
| TOK · iShares Trust | 0.15% | 2,610 SH | Sept. 11, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.14% | 9,095 | Oct. 23, 2026 | Daily |
| URTH · iShares, Inc. | 0.14% | 83,427 SH | Sept. 11, 2026 | Daily |
| TILT · FlexShares Trust | 0.13% | 20,382 NS | July 31, 2026 | N-PORT |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 4,029 NS | July 31, 2026 | N-PORT |
| CRBN · iShares Trust | 0.13% | 10,902 SH | Sept. 11, 2026 | Daily |
| ACWI · iShares Trust | 0.12% | 296,220 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.11% | 771,691 SH | Aug. 19, 2026 | Daily |
| DEUS · DBX ETF Trust | 0.07% | 1,403 NS | Aug. 31, 2026 | N-PORT |
| RWL · Invesco Exchange-Traded Fund Trust … | 0.04% | 34,230 | Oct. 23, 2026 | Daily |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.04% | 15,581 | Oct. 23, 2026 | Daily |
| GTO · Invesco Actively Managed Exchange-T… | 0.02% | 777,000 | Oct. 22, 2026 | Daily |
| VFMV · VANGUARD WELLINGTON FUND | 0.01% | 281 SH | Aug. 19, 2026 | Daily |
| EVNT · AltShares Trust | -0.29% | -274 NS | Aug. 31, 2026 | N-PORT |
| BIV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BLV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VUSB · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCIT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCLT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDX · VANGUARD CHARLOTTE FUNDS | · | · | July 15, 2026 | Daily |
| VCEB · VANGUARD WORLD FUND | · | · | July 30, 2026 | Daily |
PLD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
14 analysts · 2026-10-24Mean target $151.64 +19.9%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| PLD | $118.62B | 35.9 | 7.2% | 37.9% | 6.2% | · |
| EGP | $9.50B | 36.6 | 12.7% | 35.7% | 7.6% | · |
| REXR | $8.97B | 45.0 | 7.1% | 21.1% | 2.5% | · |
| LINE | $7.95B | -81.4 | 0.28% | -1.9% | -1.2% | · |
| FR | $7.59B | 30.6 | 8.6% | 34.0% | 9.3% | · |
| TRNO | $6.08B | 15.0 | 24.5% | 84.6% | 10.0% | · |
| STAG | $7.02B | · | 10.1% | 32.4% | 7.8% | · |
| COLD | $3.66B | -32.1 | -2.4% | -4.4% | -3.7% | · |
| LXP | $2.93B | 27.2 | -2.3% | 32.3% | 5.5% | · |
| IIPR | $1.33B | 12.1 | -13.8% | 44.5% | 6.3% | · |
| OLP | $424M | 17.6 | · | · | 8.4% | · |
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