BTIG lowered the firm’s price target on Prologis (PLD) to $134 from $154 and keeps a Buy rating on the shares ahead of its Q4 results. The firm believes that 2025 will serve as somewhat of a “Reset” year for Prologis – albeit one in which the company’s yield retains growth that is still 150 bps higher than the rest of the REIT industry – as occupancy ticks lower through the first two quarters, the analyst tells investors in a research note. Occupancy will then slowly recover in the back half as higher warehouse utilization contributes to a recovery in net absorption, the firm added.
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