Prologis

PLD · NYSE

$127.47+$3.38 (+2.72%)TodayMarket closed · Oct 20, 7:49 PM ET

Prev close $124.09

PLD analyst rating

BuyConsensus of 16 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy12
Hold4
Underperform0
Sell0

12-month price target · 16 analysts

Average $161.82 (+26.9% upside)

Low: $139.38
Now: $127.47
High: $178.50

Upgrades and downgrades

The latest rating actions, newest first

PLD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Baird	Oct 20, 2026	Maintains	Neutral	$140.00 → $136.00	53%
BTIG	Oct 16, 2026	Maintains	Buy	$170.00	28%
Scotiabank	Oct 13, 2026	Upgrade	Sector Perform → Sector Outperform	$150.00	47%
Wells Fargo	Sep 1, 2026	Maintains	Overweight	$167.00 → $166.00	42%
RBC Capital	Aug 5, 2026	Upgrade	Sector Perform → Outperform	$148.00 → $160.00	58%
Scotiabank	Jul 23, 2026	Maintains	Sector Perform	$146.00 → $150.00	47%
Truist Securities	Jul 21, 2026	Maintains	Buy	$154.00 → $162.00	45%
Mizuho	Jul 17, 2026	Maintains	Outperform	$150.00 → $159.00	48%
Barclays	Jul 16, 2026	Maintains	Overweight	$139.00 → $156.00	32%
BTIG	Jul 1, 2026	Maintains	Buy	$160.00 → $170.00	28%

The case for and against

Updated Oct 14, 2026

Bull case

Prologis is supported by a powerful industrial-logistics platform spanning about 1.3 billion square feet and a strategic capital business with roughly $60 billion of third-party assets under management, giving it multiple fee and cash-flow engines beyond core rent growth. Management’s Q2 results showed improving U.S. industrial conditions, with market vacancy down to 7.2% from 7.5% in Q1/26, rents up 70bp q/q, and full-year U.S. absorption raised to 220msf, while the company’s development and data-center pipeline adds durable NAV creation. With healthy tenant activity, a stable FFO growth outlook near 6% annually, and a strong balance sheet, the shares merit a positive view because Prologis can compound earnings even before a broader leasing inflection.

Bear case

Prologis is vulnerable to softening industrial fundamentals that could cap its embedded mark-to-market benefit and limit medium-term upside, even though it remains the largest global Industrial REIT with about $120 billion of market cap and roughly 1.3 billion square feet of assets. Its heavy US concentration at 84% of NOI leaves earnings exposed to weaker leasing demand, higher supply deliveries, and macro uncertainty that could slow supply chain buildout and reduce rent growth, occupancy, and lease spreads. Rising cap rates, foreign currency and policy risk, and tenant bankruptcies could further pressure NAV, FFO growth, and the value of its strategic capital business with around $60 billion of AUM.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.