The world`s largest industrial landlord was double downgraded by Scotiabank Monday, causing stocks to fall to a nearly five-year low. Prologis has been taken from Sector Overperform to Sector Underperform, meaning the REIT’s stocks are expected to perform worse than the industrial market overall in the coming months.
Scotiabank also reduced the price target to $97 from $133.
Prologis` stock was $91.71 a share during Monday trading, down 6.6% from its previous close of $98.35, according to Seeking Alpha. As of midday Tuesday, the price remains the same.
Weaker earnings at Prologis would mirror a broader slowdown in the industrial market. The national industrial vacancy rate doubled in the last two years and reached 8.2% in February, CommercialEdge reports...
RSK: I wouldn`t panic yet and I don`t think the big players are either.
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- - Volume: 25 - WEEK: 16 Date: 4/15/2025 12:52:24 PM -