With a market cap of $100.8 billion, Prologis, Inc. (PLD) is the world’s largest logistics real estate company, specializing in the ownership, development, and management of industrial properties such as warehouses and distribution centers. Headquartered in San Francisco, it operates across 20 countries, managing over 1.3 billion square feet of logistics space and serving approximately 6,500 customers.

Companies worth $10 billion or more are generally described as “large-cap stocks,” and PLD perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the REIT - industrial industry. It stands out in the logistics real estate sector due to its massive global footprint, high-quality tenant base, and strategic property locations near key supply chain hubs. 

Despite its notable strength, PLD slipped 18% from its 52-week high of $135.76, achieved on Sept. 10, 2024. Over the past three months, PLD stock has dropped 12.2%, compared to the S&P 500 Index’s ($SPX) marginal decrease.

In the longer term, the stock dipped 1.6% over the past 52 weeks, underperforming $SPX’s 12.5% returns over the last year. However, shares of PLD rose 2.9% on a YTD basis, outperforming $SPX’s YTD marginal gain.  

PLD has been trading below its 200-day moving averages since mid-March, but above its 50-day moving average since mid-May. 

On April 16, Prologis reported strong Q1 2025 earnings, with shares climbing 1.8% after the company exceeded analyst expectations. The company generated $2.14 billion in revenue, marking an 8.7% year-over-year increase, and reported core FFO of $1.42 per share. Operationally, Prologis maintained a high average occupancy rate of 94.9% across its portfolio, initiated leases totaling 65.1 million square feet, and delivered a 6.2% rise in cash same-store net operating income. Notably, the company achieved a significant 53.7% increase in net effective rent change, reflecting strong demand and pricing power in the logistics real estate market.

In the competitive REIT-Industrial industry, First Industrial Realty Trust, Inc. (FR) has taken the lead over PLD, showing resilience with a 5% uptick over the past 52 weeks but lagging behind the stock with a 1.3% fall on a YTD basis. 

Wall Street analysts are moderately bullish on PLD’s prospects. The stock has a consensus “Moderate Buy” rating from the 24 analysts covering it, and the mean price target of $118.25 suggests a potential upside of 8.7% from current price levels.