HIGHBuilt-inProperty_type
logistics
“10-K Item 1A: 'Our investments in real estate assets are concentrated in the logistics sector'”
PLD · Concentration risk · 10-K extracted
Prologis (PLD) concentration risks
Updated
The most significant concentration Prologis discloses is logistics, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Prologis’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH1
MEDIUM1
LOW2
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inGeographic
31.9%
California
“10-K Item 1A: 'were located in California ... 31.9% of our consolidated operating property NOI'”
LOWOutside partyCustomer
16.3%
top 10 customers
“10-K Item 1A: 'our top 10 customers accounted for 16.3% of our consolidated NER and 15.2% of our O&M NER'”
LOWOutside partyTenant
6.3%
Amazon
“10-K Item 1: 'Amazon | 6.3'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile reflects its deliberate strategic focus on a single property type and a meaningful sub-market exposure, with customer concentration that is relatively modest by disclosed size. The entire investment portfolio is concentrated in the logistics sector — a high-share, structural exposure that is intentional by design. Industrial logistics real estate has benefited from e-commerce demand growth, but a sector-wide property-type concentration means that a structural shift in logistics real estate fundamentals — oversupply in key markets, a pullback in e-commerce capital expenditure, or a re-onshoring of manufacturing that changes distribution network architecture — would affect the full portfolio rather than a subset. Within the logistics portfolio, California represented 31.9% of consolidated operating property net operating income — a medium-share geographic concentration. California exposure adds local rent regulation risk, high replacement costs, and seismic considerations as incremental overlays on the sector-wide exposure. At the customer level, the top 10 customers accounted for 16.3% of consolidated net effective rent — a low-share concentration reflecting the company's large and diversified tenant base. Amazon's individual contribution is noted in the source at a low share by cited reference, though the figure in that quote is not in a directly citeable form adjacent to a unit, so it is treated qualitatively here: Amazon is among the largest disclosed tenants but at a small share of overall rent. On balance, the property-type concentration in logistics is the dominant variable, with California sub-market fundamentals as the secondary watch item.
For the engine’s reasoning on PLD’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · REIT - Industrial
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| COLD | Americold Realty Trust, Inc. | 2 | 0 | 0 | 2 |
| PLD● | Prologis, Inc. | 1 | 1 | 2 | 4 |
| FR | First Industrial Realty Trust, | 1 | 1 | 1 | 3 |
| EGP | EastGroup Properties, Inc. | 0 | 1 | 2 | 3 |
| CUBE | CubeSmart | 0 | 0 | 4 | 4 |
| EXR | Extra Space Storage Inc | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.