I've got a Lab, and he would. Normally, it's me that has to reassure him at night as he doesn't like the dark. I've even installed a security light in the garden for his night time whizzes as he wouldn't go unless I stood with a torch for him.
However, about 6 years ago, I got home from work extremely late one night due to a car accident blocking the roads and he'd been on his own longer than I wanted him to be and he needed walking. Despite it being midnight, there wasn't an issue as his walk was about an hour, and was a square route and went up one major road (never quiet), along a road full of houses, about a 2 minute walk through a quiet road, back onto another major road (again, never quiet), before walking along a major road before cutting back onto the road where I lived which was 2 mins away from the last main road. I was about 15 minutes in to his walk when I noticed a guy come out of the pub at closing time, and start walking behind me. I thought nothing of it given we were surrounded by houses. However, every time my boy stopped for a sniff or whizz, this guy would stop and just look around aimlessly, then start walking again the moment I moved off again. Instantly this raised my suspicions, however I was running out of houses and needed to cut through the quiet road to get back onto the main road to head home and I had no real options, I could either turn round and walk past him, go down the quiet road or stop and wait. So I stopped and waited with my phone out and just watched the man, who after a few minutes stood still eventually began to walk towards me. Somehow, my boy knew I was tense, and his heckles went up and he began to growl whilst staring at the man. It turns out, as the man explained when he got closer, the man was scared he would freak me out knowing it was late and was trying to keep a distance between me and him, but by doing so, had actually scared me more. He continued down the road whereas we gave it a few minutes before going down the quiet road (just incase the man was lying and was going to double back), however my boy never let that man out of his sight and continued his low growling until I told him it was okay and to continue. This is the same dog who whenever a delivery driver comes to the door, he runs and gets his teddy to show them, and takes a different teddy to bed every night (he has many!).
I think they take their reactions off you. If you're tense, they'll go into protection mode kind of thing (edit: protection might be the wrong word, but I don't know what else to call it). If you're chilled out, they are