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Prologis, Inc. — Intrinsic Value & Fair Price

PLD
NYSEReal EstateREIT - IndustrialCIK 0001045609prologis.comAbout PLD
Last close · Oct 16, 2026125.75−1.19 (−0.94%)
Market cap$119.5B
Model value · P/Cash FFO · own history
131.45
Prologis closed at $125.75 — undervalued by 4% vs model.
117.75the model's range140.60

P/Cash FFO · own history leads for a REIT. From its own five-year median price to Cash FFO.

Other models
56.16 – 115.63
Wall St. target
150.00 16% below
Below model, 1y
5 of 20 days

Price and model value

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What the marks mean
Daily close

Valuation models

price $125.75 · as of Oct 17, 2026
P/Cash FFO · own historyused117.75 – 140.60131.454% undervaluedP/E · peers96.65 – 106.97104.3421% overvaluedP/E · own history103.85 – 139.36115.639% overvaluedPEG—56.16124% overvaluedEV/EBITDA · peers90.96 – 97.8191.8137% overvaluedEV/Revenue · peers66.41 – 77.4168.6083% overvaluedDividend discount48.81 – 99.9667.2587% overvaluedWall St. consensus target—150.0016% belowCost of capital (WACC)—8.91%—

P/Cash FFO · own history leads for a REIT. How we value a stock walks through every input.

engine pkg:0.1.0

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
3.36%
Past 2 years
low 2.76%high 4.33%
Dividends per share, a year at a time
$2.47Sep ’21$3.00Sep ’22$3.40Sep ’23$3.75Sep ’24$3.99Sep ’25$4.22TTM
Dividends / FFO, FY2025
63.2%
Raised
12 years in a row
Growth, 5 yrs
11.3% a year
Last change
+5.9% · Mar 2026
Every payment, with ex-dates · latest $1.07, paid Sep 30, 2026

Research on PLD

1 post
How to value a REIT: FFO, P/FFO and the yield spread
A step-by-step walk from a REIT's income statement to the three questions that price it: FFO and P/FFO, yield against the 10-year, the balance sheet.
Allen Yan · · 11 min · 中文
Studied PLD from its filings? Guest posts are reviewed before they go live.Write about PLD →

How it is valued

Valued asREIT
Low/slowing growth (~5% recent)High profitability (38% net margin)Strong dividend yieldHighly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for REITs
Price / Cash FFO
—
Dividend yield, TTM
3.36%
Dividends / Cash FFO
—
Debt / assets
35.5%
Price / book
2.0×
Revenue growth
7.2%
On the lists: #14 Near 52-week lows
Full financials

Superinvestors

13F · Q2 2026
All 3 holders

Analyst actions

third-party, quoted
10-16Williams Trading · target150.00
10-16UBS · target150.00
10-13Scotiabank · “Sector Outperform” from “Sector Perform”upgrade
09-01Wells Fargo · target166.00
Ratings, targets and estimates

Recent

filings, insider trades and key news
69 filings · 40 insider transactions

Comparable companies

by business, not by industry label
DLRDigital RealtyPSAPublic StorageEXRExtra Space StorageEQIXEquinixORealty Income

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just PLD. No account.

About Prologis

Prologis, Inc. don't just lead the industry, they define it. The firm creates the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, their ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Prologis, Inc. was established in 1983 and is incorporated in Maryland.

CEO
Daniel S. Letter
Headquarters
San Francisco, CA
Employees
2,802
IPO
1997-11-21
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.