Prologis price target raised to $155 from $134 at BTIG

BTIG raised the firm’s price target on Prologis (PLD) to $155 from $134 and keeps a Buy rating on the shares. The company’s occupancy rebounded in Q3 and its 9.5% yield plus growth for 2025 is on track to outperform the real estate investment trust industry by more than 500 basis points, the analyst tells investors in a research note. BTIG says that even with 2025’s 22% rally, Prologis’ valuation is only back to 2018 levels. It sees improved market fundamentals, higher rents and external growth opportunities boosting the company’s multiple back toward 2019 levels in 2026.