ProLogis (PLD) PT Lowered to $140 at Citi

Citi analyst Nicholas Joseph lowered the price target on ProLogis (NYSE: PLD) to $140.00 (from $150.00) while maintaining a Buy rating.

The analyst comments "We are updating our PLD model to reflect 2Q25 results and revised forward growth assumptions. Accordingly, our 2025E FFO estimate increases to $5.78 from $5.74 and our 2026E FFO estimate is maintained at $6.23. Additionally, we are lowering our target price to $140 from $150 to reflect a lower target AFFO 2026E multiple of 31x versus our prior 33x 2026E AFFO multiple on our previous target price. This reduction reflects the uncertainty from unresolved trade policies and the associated impact on tenant decision making and lease gestation periods."

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