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Prologis: Game-Changing Quarter Doesn't Make It A Buy
2026-05-05 · via All Articles on Seeking Alpha

Summary

  • PLD delivered record Q1 2026 results, exceeding occupancy expectations and raising full-year guidance.
  • PLD capitalized on data center demand, secured 5.6 GW in its pipeline, and expanded its strategic capital platform with major joint ventures.
  • Despite operational strength, rent growth is decelerating, and a 23x P/FFO valuation limits total return potential.
  • I maintain a Hold rating on PLD, preferring to collect dividends and reinvest elsewhere given current valuation.
Prologis in the United States

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I've liked Prologis (PLD) for a long time. I was still buying after I had published my last strong buy article in July 2025. Since the date the article went live, I see that PLD delivered nearly

4.76K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of PLD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The information, opinions, and thoughts included in this article do not constitute an investment recommendation or any form of investment advice.

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