Prologis price target lowered to $134 from $136 at Scotiabank

Scotiabank analyst Nicholas Yulico lowered the firm’s price target on Prologis (PLD) to $134 from $136 and keeps an Outperform rating on the shares. The firm is modestly lowering its FY25 and FY26 Funds from Operations Per Share estimates following NAREIT updates and its recent call with the company, the analyst tells investors. The company highlighted near-term headwinds for 2025: subdued leasing activity, rents might continue to modestly decline, and higher free rent remains an impact, the firm adds.