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Prologis (NYSE:PLD) inventory dipped 2.7% in Monday morning buying and selling as RBC Capital Markets downgraded the commercial REIT to Sector Carry out from Outperform because the embedded mark-to-market in its upcoming lease roll is predicted to additional slim over the subsequent 12 months, given administration’s projection for market lease progress.
Nonetheless, analyst Michael Carroll stays “inspired by PLD’s progress outlook over the subsequent few years,” calling for elevated natural progress a minimum of by 2026.
Nonetheless, with the inventory rising over 6% from a month earlier, Carroll believes traders are “pricing within the enticing near-term progress charge outlook, and there’s probably much less upside to the medium-term outlook, a minimum of right this moment,” he wrote in a be aware.
RBC’s Sector Carry out score aligns with the SA Quant system score of Maintain and diverges from the typical Wall Avenue analyst score of Purchase.
