BofA Raises Prologis Target

Bank of America lifted its price target on Prologis to $162 this week and kept its Buy rating after the warehouse landlord raised guidance and posted record leasing. (in.investing.com, x.com) The new target is up from $153, which was Bank of America’s March 9 target, and follows Prologis’ first-quarter report on April 16. (streetinsider.com, ir.prologis.com, x.com) Prologis said net earnings were $1.05 a share in the quarter, up from $0.63 a year earlier, while core funds from operations were $1.50 a share, up from $1.42. The company said it signed a record 64 million square feet of leases and ended the quarter with 95.3% occupancy. (ir.prologis.com) The company also said it advanced its data-center platform with $1.3 billion of build-to-suit development starts and increased its 2026 core funds from operations outlook. Prologis tied that higher outlook to strong execution and balance-sheet strength despite what it called an uncertain geopolitical environment. (ir.prologis.com) Prologis is the largest listed owner of logistics real estate, so analyst changes on the stock are often read as a view on warehouse demand, rents and development conditions across the industrial property market. The company says it operates in high-barrier, high-growth markets and has been adding data centers and energy infrastructure alongside its warehouse business. (ir.prologis.com, ir.prologis.com) Other analysts also turned more positive after the April 16 report. BTIG raised its target to $160 from $155 on April 17, Evercore ISI lifted its target to $135 from $121, and UBS raised its target to $161 from $148. (benzinga.com, marketscreener.com, streetinsider.com) Not every firm is at the same level. Truist reiterated Buy on April 16 but kept a $139 target, Baird moved to $136 from $133 with a Neutral rating, and BMO had raised its target to $137 in March while keeping Market Perform. (streetinsider.com, marketscreener.com, in.investing.com) The stock closed at $145.10 on April 17, according to Prologis’ investor site, leaving Bank of America’s new target above the latest closing price. For now, the call rests on the same points Prologis emphasized last week: leasing volume, higher 2026 guidance and a bigger push into data centers. (ir.prologis.com, ir.prologis.com, x.com)