Verizon, Prologis, Medtronic and Crimson are included in this Analyst Blog.
PLD is set to gain from its strategically located distribution facilities, prudent buyouts and solid balance sheet despite subdued demand and high interest rates.
In the most recent trading session, Prologis (PLD) closed at $132.40, indicating a +1.65% shift from the previous trading day.
Prologis, Inc. (NYSE:PLD ) 2024 Bank of America Global Real Estate Conference Call September 10, 2024 12:45 PM ET Company Participants Tim Arndt - Chief Financial Officer Conference Call Participants Camille Bonnel - Bank of America Camille Bonnel Good afternoon and welcome everyone to our afternoon session with Prologis. My name is Camille Bonnel; I am the Industrial REIT Analyst here at Bank of America.
Prologis (PLD) closed the most recent trading day at $128.37, moving +0.43% from the previous trading session.
PLD is poised to gain from its strategically located modern distribution facilities in key markets globally, scale, prudent buyouts and development.
In the most recent trading session, Prologis (PLD) closed at $128.94, indicating a +0.03% shift from the previous trading day.
Prologis is an industrial REIT focused on logistics properties, with the majority of net operating income coming from the United States. Prologis has underperformed the Vanguard Real Estate Index Fund ETF in 2024. Even so, I am neutral on the shares due to low gearing and elevated valuation. Q2 2024 results were robust in the core Rental Operations segment but saw weakness in Strategic Capital and occupancy developments.
Prologis (PLD) closed the most recent trading day at $124.47, moving +0.26% from the previous trading session.
Prologis is the largest owner and operator of industrial real estate globally, with a focus on high-growth markets and a diverse tenant base. Series Q preferred shares have rallied 14% to $62/share, now trading at a 24% premium to liquidation preference with a yield-to-call of -1%. With a call date in 2026, the significant premium to liquidation preference and negative YTC lead to a Sell rating.
Prologis (PLD) reported earnings 30 days ago. What's next for the stock?
Prologis stock has underperformed the S&P 500 in the past year. Deglobalization could lead to increased demand for warehouse and production capacity, benefiting Prologis. Current valuation suggests Prologis is fairly valued with potential for future gains.