Company Overview - Prologis (NYSE:PLD) is a leading industrial real estate investment trust (REIT) focusing on logistics facilities globally, providing warehouses and distribution centers across various industries [1] - Prologis competes with other industrial REITs such as Industrial Logistics Properties Trust (ILPT) and First Industrial (FR), all experiencing a resurgence in demand [1] Financial Performance - BMO Capital set a price target of $123 for Prologis, with the stock currently trading at $127.24, reflecting a decrease of 2.97% from its previous price [2][6] - Prologis signed 57 million square feet of leases in Q4, boosting its occupancy rate to 95.8% and supporting strong core funds from operations (FFO) [3][6] Market Conditions - The U.S. industrial real estate market began 2026 with increased visibility, driven by a rebound in demand during the latter half of 2025 [4] - U.S. industrial vacancy rates remained steady at 7.1% for the third consecutive quarter, with full-year net absorption reaching 176.8 million square feet, marking a 16.3% increase year over year [4][6] Investor Sentiment - Investors are focusing on the sustainability of cash flows and balanced portfolios rather than peak rent growth, positioning Prologis favorably in this environment [5] - Prologis has a market capitalization of approximately $118.19 billion, with a trading volume of 3,434,012 shares on the NYSE, indicating active investor interest [5]