Headquartered in San Francisco, California, Prologis, Inc. (PLD) is a major player in logistics real estate. With a market cap of $108.7 billion, Prologis specializes in developing and managing high-quality industrial properties that support supply chain efficiency. Serving customers across North America, Europe, and Asia, the company focuses on delivering sustainable and innovative logistics solutions that enhance operational performance for e-commerce, retail, and manufacturing industries.
Shares of Prologis have underperformed the broader market over the past 52 weeks. PLD has dropped 9.1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 20.6%. However, in 2025, the stock is up 11%, compared to SPX’s 2.5% gain on a YTD basis.
Narrowing the focus, PLD has underperformed compared to the Real Estate Select Sector SPDR Fund’s (XLRE) 10.2% gain over the past 52 weeks. However, the stock's YTD gains have outperformed the ETF's 3.2% YTD return.
Shares of Prologis rose 7.1% on Jan. 21 after the company reported fiscal Q4 earnings. The company's core FFO per share rose 19% year-over-year to $1.50, exceeding the consensus estimate of $1.38. Revenue reached $2.20 billion, surpassing analysts' expectations of $1.94 billion and reflecting 16.5% annual growth. For 2025, the company forecasts net earnings per share between $3.45 and $3.70, with core FFO projected between $5.65 and $5.81. Prologis also anticipates average occupancy of 94.5% to 95.5%, cash same-store NOI growth between 4% and 5%, and net effective same-store NOI growth of 3.5% to 4.5%.
For the current fiscal year, ending in December, analysts expect PLD’s FFO to grow 3.2% year-over-year to $5.74 per share. The company’s earnings surprise history is robust. It beat or met the consensus estimates in the last four quarters.
Among the 24 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 15 “Strong Buy” ratings, one “Moderate Buy,” seven “Holds,” and one “Strong Sell.”
This configuration is more bullish than three months ago, with 14 “Strong Buy” ratings on the stock.
On Jan. 30, Baird raised Prologis' price target to $124 from $123 while maintaining an “Outperform” rating. The firm noted that the company's outlook is better than expected, helping close its relative discount.
PLD’s mean price target of $130.43 represents an upside potential of 11.1% from current price levels. Meanwhile, the street-high target of $150 suggests the stock could rally as much as 27.8%.
