Blaine Heck, an analyst from Wells Fargo, maintained the Buy rating on Prologis (PLD – Research Report). The associated price target is $146.00.
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Blaine Heck’s rating is based on a combination of factors including Prologis’s stable management transition and positive leasing trends. The retirement of CEO Hamid Moghadam, who will continue as Executive Chairman, is seen as orderly and well-anticipated. Dan Letter, the incoming CEO, is familiar to stakeholders and has extensive experience within the company, which should ensure continuity in leadership and strategy.
Additionally, Prologis’s recent earnings report showed optimism with increased leasing activity and a conservative initial guidance, indicating potential for better-than-expected performance in 2025. The company’s large platform and development expertise further distinguish it from competitors, contributing to the positive outlook that supports a Buy rating.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PLD in relation to earlier this year.