---
title: Prologis (PLD) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/pld
ticker: PLD
as_of: 2026-10-17
sector: Real Estate
industry: REIT - Industrial
---
# Prologis (PLD)

Prologis (PLD) closed at $125.75 on Oct 16, 2026, undervalued by 4% vs its model value of $131.45 (from its own five-year median price to Cash FFO).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $125.75 (Oct 16, 2026) |
| Model value (from its own five-year median price to Cash FFO) | $131.45 |
| Price vs model | undervalued by 4% vs model |
| Range of that model | $117.75 – $140.60 |
| Market value | $119.5B |
| P/E (fiscal 2025) | 35.3 |
| Net margin (fiscal 2025) | 38.8% |
| Free cash flow (fiscal 2025) | — |
| Dividend yield (trailing twelve months) | 3.36% |
| Beta | 1.32 |
| Cost of capital (WACC) | 8.91% |
| Business classification | Dividend Payer (Low/slowing growth (~5% recent), High profitability (38% net margin), Strong dividend yield, Highly cyclical earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Near 52-week lows | #14 | +2.7% | https://sweetvaluelab.com/lists/near-52-week-lows |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 3.36% |
| Dividends per share, last 12 months | $4.22 |
| Dividends / FFO (fiscal 2025) | 63.2% |
| Raised | 12 years in a row |
| Growth over 5 years | 11.3% a year |
| Latest payment | $1.07, ex-date Sep 16, 2026, paid Sep 30, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Sep 16, 2021 | $2.47 |
| To Sep 14, 2022 | $3.00 |
| To Sep 15, 2023 | $3.40 |
| To Sep 16, 2024 | $3.75 |
| To Sep 16, 2025 | $3.99 |
| Trailing twelve months (to Sep 16, 2026) | $4.22 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| P/Cash FFO · own history | primary | $131.45 | $117.75 | $140.60 |
| P/E · peers | cross check | $104.34 | $96.65 | $106.97 |
| P/E · own history | cross check | $115.63 | $103.85 | $139.36 |
| PEG | sanity check | $56.16 | $56.16 | $56.16 |
| EV/EBITDA · peers | cross check | $91.81 | $90.96 | $97.81 |
| EV/Revenue · peers | cross check | $68.60 | $66.41 | $77.41 |
| Dividend discount | cross check | $67.25 | $48.81 | $99.96 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 30, 2026 | BITA CRISTINA GABRIELA | Director | Grant / award | 68.617 | $0 |
| Sep 30, 2026 | BITA CRISTINA GABRIELA | Director | Grant / award | 42.955 | $0 |
| Sep 30, 2026 | BITA CRISTINA GABRIELA | Director | Grant / award | 231 | $0 |
| Sep 30, 2026 | Metcalfe Guy A | Director | Grant / award | 52.134 | $0 |
| Sep 30, 2026 | Metcalfe Guy A | Director | Grant / award | 3.698 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 15, 2026 | 8-K | 2.02 Results of Operations (Earnings); 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1045609/000119312526422375/pld-20261015.htm |
| Aug 6, 2026 | 8-K | 8.01 Other Events | https://www.sec.gov/Archives/edgar/data/1045609/000110465926092072/tm2621154d3_8k.htm |
| Aug 5, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1045609/000110465926090724/tm2621155d5_8k.htm |
| Aug 4, 2026 | 8-K | 1.01 Entry into a Material Agreement; 2.03 Creation of a Direct Financial Obligation; 3.02 Unregistered Sale of Equity; 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1045609/000110465926089980/tm2621154d2_8k.htm |
| Jul 29, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1045609/000119312526323746/pld-20260630.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Christopher Davis | 2026-06-30 | 178,556 | $24.2M |
| Torray | 2026-06-30 | 134,084 | $18.2M |
| Third Avenue | 2026-06-30 | 104,823 | $14.2M |

3 tracked managers in all.

## About

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.

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Source: https://sweetvaluelab.com/stocks/pld (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.