Analyst Tom Catherwood from BTIG maintained a Buy rating on Prologis (PLD – Research Report) and keeping the price target at $134.00.
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Tom Catherwood’s rating is based on Prologis’s solid financial performance and strategic stability amidst economic uncertainties. The company reported a first-quarter Core FFO per share that exceeded both BTIG’s and the Street’s estimates, which is a positive indicator despite a slight decline in occupancy rates. Prologis maintained its Core FFO guidance and operating assumptions, signaling confidence in its business model despite macroeconomic challenges.
Additionally, the company’s strategic capital platform showed growth, and its leasing activity reached record highs, demonstrating strong demand for its properties. Prologis’s ability to adjust its investment guidance while maintaining acquisition targets further supports its operational resilience. These factors combined suggest that Prologis is well-positioned to navigate current market conditions, justifying the Buy rating.
Catherwood covers the Real Estate sector, focusing on stocks such as Hudson Pacific Properties, Prologis, and Apollo Real Estate. According to TipRanks, Catherwood has an average return of -5.0% and a 35.37% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $132.00 price target.