Prologis rated hold with $135 target due to high valuation despite strong logistics REIT performance

Prologis, a leading global logistics REIT, shows strong revenue and core FFO growth supported by steady rental income and expanding data center segments. However, its current valuation at a premium 26x AFFO multiple and a modest 3.2% dividend yield limit upside potential. Risks include high occupancy rates, sensitivity to interest rates, and uncertainties in data center power pipeline expansion. The analyst assigns a hold rating with a $135 price target, reflecting cautious optimism amid these factors.

As of Sep 19, 2026 11:02 WIB, Prologis (PLD) trades at USD 134.84 on Pluang, showing a slight 0.25% decline in the past day. The stock maintains a dividend yield of 3.17%, closely matching the article's noted yield, and holds a market capitalization of $128.47 billion. Notably, all Pluang order activity for PLD is on the buy side, reflecting investor interest despite the modest price movement.