Prologis, Inc. (PLD)

Over the past six months, Prologis's stock price has experienced fluctuations. As of June 27, 2025, PLD was down 2.13% over the past 30 days and down 5.15% for the past 12 months. The stock declined 10.3% over the three months leading up to December 5, 2024. Prologis reported Q1 2025 revenue of $2.14 billion, exceeding analyst expectations, which led to a positive stock reaction. Wolfe Research, Scotiabank, and Raymond James downgraded Prologis, while Baird upgraded its outlook. Prologis delivered better-than-expected Q3 core FFO of $1.43 per share, an increase of 10% annually, and rental revenues increased by 6.9% year-over-year, leading to a 4.6% rise in its share price on that day.

Demand for Prologis's logistics facilities is influenced by economic trends and consumer behavior, especially e-commerce. E-commerce accounts for a growing share of new leasing, while traditional customers still represent a larger portion of demand. The strongest demand for e-commerce facilities is near major population centers. The first quarter can be seasonally lighter for net absorption in the industrial real estate market. Prologis has maintained high occupancy rates, reporting 95.2% for Q1 2025 and a retention rate of 73%. Long-term lease contracts, with a weighted average lease term of 64 months, help guarantee stable cash flow.

Prologis, Inc. is a global leader in logistics real estate, operating as a REIT headquartered in San Francisco. The company owns, acquires, develops, and manages logistics facilities for distribution, storage, packaging, assembly, and light manufacturing. Prologis leases these facilities to a diverse customer base of approximately 6,500 to 6,700 clients. Prologis operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment focuses on the ownership and development of logistics properties, primarily in the United States. The Strategic Capital segment manages co-investment ventures and partnerships, generating revenue from asset management and transactional services. Prologis also builds data centers and offers end-to-end supply chain and logistics solutions.

Prologis has a global presence with approximately 1.3 billion square feet across 5,884 buildings in 20 countries as of March 31, 2025. Its portfolio is concentrated in high-barrier, high-growth markets. The United States accounts for 86% of its net operating income (NOI), while international markets contribute 14%. The company operates across the Americas, Europe, and Asia. Its strategic capital business has a more balanced distribution between U.S. (51%) and international markets (49%). Prologis's properties are typically located near seaports, airports, rail, and highway transportation systems.

Prologis is recognized as a global leader in logistics real estate, holding positions in Forbes' Global 2000, Net Zero Leaders, Most Trusted Companies in America, and America's Best Companies. The company's balance sheet was upgraded by Moody's to an A2 rating. Prologis partnered with Broadstone Net Lease Inc. for a US$78.2 million build-to-suit development project and divested a data center in Illinois to HMC Capital. It also secured a EUR225 million loan from the European Investment Bank for solar panel and battery storage systems at its European logistics centers. Prologis faces challenges from tariffs, global trade uncertainties, supply chain reconfiguration, global rent declines, macroeconomic pressures, inflation, and competition, but Q1 2025 results showed solid revenue growth.

Prologis is predominantly owned by institutional shareholders, who hold 91.94% of the company's stock, while retail investors own 7.35%, and Prologis insiders own 0.71%. Major institutional owners include Vanguard Group Inc, BlackRock Inc, and State Street Corp. Prologis has 2,563 institutional owners and shareholders who have filed 13D/G or 13F forms with the SEC, holding a total of 1,026,439,373 shares. Insiders have shown net buying activity in the past 12 and 3 months.