Prologis (PLD) AI Stock Analysis

• Market Cap: $101.81B
• Dividend Yield: 3.59%
• Average Volume (3M): 4.45M
• Price to Earnings (P/E): 29.3
• Beta (1Y): 1.00
• Revenue Growth: 10.20%
• EPS Growth: 23.28%
• Country: US
• Employees: 2,703
• Sector: Real Estate
• Sector Strength: 65
• Industry: REIT - Industrial
• EPS (TTM): 0.61
• Shares Outstanding: 927,926,000
• 10 Day Avg. Volume: 5,379,149
• 30 Day Avg. Volume: 4,454,515
• PEG Ratio: 54.92
• Price to Book (P/B): 1.91
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 21.25
• Enterprise Value/Market Cap: 1.32
• Enterprise Value/Revenue: 4.17
• Enterprise Value/Gross Profit: 23.70
• Enterprise Value/Ebitda: 5.37
• 1Y Price Target: $120.82
• Price Target Upside: 10.12% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 18

• Rating: 78 Outperform
• Price Target: $125.00 ▲(13.93%Upside)

Prologis demonstrates strong financial performance with consistent growth and profitability, supported by effective cash flow management. Positive technical indicators and earnings call sentiment further bolster the stock's appeal. However, the high valuation and market challenges such as net absorption and rent declines temper the overall score.

Positive Factors

Financial performance

Prologis, Inc. reported better than feared results with solid operating metrics, leading to expectations of a positive stock reaction.

Guidance and forecasts

The company raised guidance for acquisitions, development, and strategic capital, which is seen as a positive move.

Leasing demand

Prologis is in a strong position to meet the demand according to their leasing and build-to-suit activity.

Negative Factors

Interest rates and geopolitics

Uncertainties on interest rates and geopolitics has led to slower decision making by occupiers.

Market conditions

Industrial rent growth remains tepid, and the relationship between rents and industrial REIT multiples suggests stocks could face pressure until demand recovers.

Trade policies

Lowering the target price to $140 from $150 reflects uncertainty from unresolved trade policies.

Prologis Business Overview & Revenue Model

Company Description

Prologis, Inc. (PLD) is a leading global logistics real estate company headquartered in San Francisco, California. The company specializes in owning, managing, and developing high-quality logistics facilities in key markets across the Americas, Europe, and Asia. Prologis serves a diverse base of customers primarily engaged in business-to-business and retail/online fulfillment operations, providing strategic locations that facilitate efficient distribution and supply chain operations.

How the Company Makes Money

Prologis makes money primarily through leasing its vast portfolio of logistics and industrial properties to a wide range of customers, including retailers, manufacturers, transportation companies, and third-party logistics providers. The company generates revenue from rent collected from tenants occupying its warehouses and distribution centers. Additionally, Prologis engages in strategic development and redevelopment of properties, where it can build facilities tailored to specific customer needs, thus generating development gains upon completion and leasing. Another significant revenue stream comes from property management and other value-added services provided to its tenants. Prologis also benefits from its capital deployment strategy, which includes forming joint ventures and partnerships that leverage its expertise in logistics real estate to generate additional income and expand its global footprint.

Prologis Financial Statement Overview

Summary

Prologis demonstrates strong financial performance with significant revenue growth, high profitability, and a robust balance sheet with zero debt. Despite a slight decline in free cash flow, the company maintains strong cash flow ratios, indicating effective cash generation and management.

Income Statement

Prologis has shown strong revenue growth with a compound annual growth rate of around 18% over the past five years. The gross profit margin is consistently at 100% due to the nature of its REIT operations, and the net profit margin in the latest year is approximately 45% indicating high profitability. EBIT and EBITDA margins have shown improvement, standing at 54% and 64% respectively for 2024, reflecting effective cost management and operational efficiency.

Balance Sheet

Prologis maintains a strong balance sheet with zero debt in 2024, significantly reducing financial risk. The equity ratio is high at around 57%, indicating a solid equity base relative to total assets. ROE is approximately 7% in 2024, which, while moderate, reflects consistent returns on equity investment. Overall, the company demonstrates financial stability with minimal leverage.

Cash Flow

The company exhibits a strong cash flow position with a free cash flow growth rate of approximately -9% from 2023 to 2024, primarily due to changes in operating cash flow. The operating cash flow to net income ratio is robust at 1.32, indicating efficient conversion of income into cash. With a free cash flow to net income ratio of 1.32, Prologis effectively generates cash relative to its earnings.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	8.20B	8.02B	5.97B	4.76B	4.44B
Gross Profit	6.14B	6.01B	4.46B	3.51B	3.27B
EBITDA	7.53B	6.57B	4.40B	3.60B	3.26B
Net Income	3.73B	3.06B	3.36B	2.94B	1.48B
Balance Sheet
Total Assets	95.33B	93.02B	87.90B	58.49B	56.07B
Cash, Cash Equivalents and Short-Term Investments	1.32B	530.39M	278.48M	556.12M	598.09M
Total Debt	31.49B	29.60B	25.41B	18.16B	17.34B
Total Liabilities	36.71B	35.20B	30.03B	20.74B	19.74B
Stockholders Equity	53.95B	53.18B	53.24B	33.43B	31.97B
Cash Flow
Free Cash Flow	4.91B	5.37B	3.58B	2.50B	1.69B
Operating Cash Flow	4.91B	5.37B	4.13B	3.00B	2.94B
Investing Cash Flow	-3.10B	-6.42B	-4.50B	-1.99B	-3.07B
Financing Cash Flow	-999.96M	1.32B	115.79M	-1.01B	-372.16M

Prologis Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 109.72
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PLD, the sentiment is Positive. The current price of 109.72 is above the 20-day moving average (MA) of 108.27, above the 50-day MA of 107.26, and above the 200-day MA of 109.48, indicating a bullish trend. The MACD of 0.67 indicates Negative momentum. The RSI at 55.20 is Neutral, neither overbought nor oversold. The STOCH value of 50.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PLD.

Prologis Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PLD	78 Outperform	$101.81B	29.30	7.01%	3.59%	10.20%	23.28%
FR	78 Outperform	$6.66B	23.86	10.33%	3.26%	9.66%	-4.60%
REXR	78 Outperform	$8.75B	27.49	3.74%	4.51%	13.66%	11.34%
TRNO	76 Outperform	$5.76B	28.16	5.33%	3.52%	22.17%	4.34%
STAG	74 Outperform	$6.63B	26.25	7.15%	4.15%	8.81%	33.30%
LXP	66 Neutral	$2.35B	40.52	2.98%	6.63%	5.68%	358.78%
Sector *	64 Neutral	$6.75B	15.36	-2.14%	7.04%	4.47%	-24.11%

Prologis Corporate Events

Prologis Reports Q2 2025 Revenue Growth to $2.18B

On July 16, 2025, Prologis, Inc. announced its financial results for the second quarter of 2025, highlighting a total revenue increase to $2.18 billion from $2.01 billion in the same quarter of the previous year. Despite a decrease in net earnings attributable to common stockholders, the company reported growth in Core FFO and AFFO, reflecting strong operational performance and strategic capital revenues. The announcement underscores Prologis’ robust market positioning and its continued expansion in the logistics real estate sector, which is crucial for stakeholders monitoring the company’s financial health and strategic direction.

The most recent analyst rating on (PLD) stock is a Buy with a $125.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis Reports Q2 2025 Financial Results

On July 16, 2025, Prologis, Inc. announced its financial results for the second quarter of 2025, highlighting a total revenue increase to $2.18 billion from $2.01 billion in the same period last year. The company’s net earnings attributable to common stockholders were $570 million, a decrease from $860 million in the previous year, reflecting changes in market conditions and operational adjustments. Prologis continues to show strong performance in its core business areas, with significant investments in development and strategic capital, positioning itself well for future growth.

The most recent analyst rating on (PLD) stock is a Buy with a $125.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis CIO Joseph Ghazal to Step Down

On June 17, 2025, Prologis announced that its Chief Investment Officer, Joseph Ghazal, has decided to step down from his executive role effective July 1, 2025. Ghazal will continue with the company until July 10, 2026, to ensure a smooth transition, which may impact the company’s strategic investment operations during this period.

The most recent analyst rating on (PLD) stock is a Buy with a $125.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis CIO Joseph Ghazal to Step Down

On June 17, 2025, Prologis announced that Joseph Ghazal, the Chief Investment Officer, will step down from his executive role effective July 1, 2025. Ghazal will remain with the company until July 10, 2026, to ensure a smooth transition, which may impact Prologis’s investment strategies and stakeholder relations during this period.

The most recent analyst rating on (PLD) stock is a Buy with a $125.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis Enters $3 Billion Global Credit Agreement

On May 22, 2025, Prologis, L.P. and its affiliates entered into an Amended and Restated Global Senior Credit Agreement, known as the 2025 Global Facility, with various lenders and Bank of America, N.A. This agreement allows Prologis to obtain loans and issue letters of credit up to $3 billion, with the facility maturing in 2029 and options to extend. The agreement includes two tranches in U.S. Dollars and Euros, and its terms are influenced by Prologis’ public debt ratings. This strategic financial move is expected to enhance Prologis’ operational flexibility and strengthen its position in the logistics real estate market.

The most recent analyst rating on (PLD) stock is a Buy with a $134.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis Secures $3 Billion Global Credit Facility

On May 22, 2025, Prologis, L.P. and its affiliates entered into an Amended and Restated Global Senior Credit Agreement with various lenders and Bank of America, N.A. as the Global Administrative Agent. This agreement, known as the 2025 Global Facility, allows the company to obtain loans and issue letters of credit up to $3 billion, with the possibility of increasing this by an additional $1 billion. The facility includes a U.S. Dollar Tranche and a Euro Tranche, and is set to mature on June 29, 2029, with options for two six-month extensions. The agreement includes customary financial covenants and guarantees, and its terms are influenced by the public debt ratings of the Operating Partnership.

The most recent analyst rating on (PLD) stock is a Buy with a $134.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis Elects Board Directors at Annual Meeting

At the Annual Meeting of Stockholders held on May 8, 2025, Prologis, Inc. announced the election of twelve directors to its Board, with most receiving strong support. Additionally, the stockholders approved the company’s executive compensation for 2024 and ratified KPMG LLP as the independent accounting firm for 2025. However, a stockholder proposal to allow shareholders to call special meetings was not approved.

The most recent analyst rating on (PLD) stock is a Buy with a $125.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis Elects Directors and Approves Executive Compensation

At the Annual Meeting of Stockholders on May 8, 2025, Prologis, Inc. announced the election of twelve directors to its Board and approved executive compensation for 2024. Additionally, the stockholders ratified KPMG LLP as the independent public accounting firm for 2025, while a proposal to allow shareholders to call special meetings was not passed.

The most recent analyst rating on (PLD) stock is a Buy with a $125.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis Issues $1.25 Billion in Senior Notes

On May 7, 2025, Prologis, L.P. completed the issuance and sale of $1.25 billion in senior unsecured notes, consisting of $500 million of 4.750% Notes due 2031 and $750 million of 5.250% Notes due 2035. The proceeds, estimated at $1.2 billion after expenses, will be used for general corporate purposes, including debt repayment. This strategic financial maneuver is expected to enhance Prologis’ liquidity and flexibility, potentially impacting its market positioning by allowing for more efficient capital management.

Prologis Issues $1.25 Billion in Senior Notes

Prologis, L.P. announced the successful issuance and sale of $1.25 billion in senior unsecured notes on May 7, 2025. The offering included $500 million of 4.750% notes due in 2031 and $750 million of 5.250% notes due in 2035. The proceeds, estimated to be around $1.2 billion after expenses, will be used for general corporate purposes, including debt repayment. This strategic financial move is expected to bolster Prologis’ operational flexibility and strengthen its market position.