San Francisco, California-based Prologis, Inc. (PLD) is the global leader in logistics real estate with a focus on high-barrier and high-growth markets. With a market cap of $105.6 billion, Prologis leases modern logistics facilities to a diverse base of customers principally across business-to-business and retail/online fulfillment categories.

Companies worth $10 billion or more are generally described as "large-cap stocks." Prologis fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the industrial REIT industry. Prologis operations span various countries across North America, Latin America, Europe, and Asia.

Despite its strengths, PLD stock has declined 16% from its 52-week high of $132.57 touched on Sept. 10, 2024. Meanwhile, PLD has gained 2.3% over the past three months, notably underperforming the Nasdaq Composite’s ($NASX) 10.6% surge during the same time frame.

Prologis has underperformed the Nasdaq Composite over the longer term as well. PLD stock prices have gained 5.3% on a YTD basis and declined 12.9% over the past 52 weeks, compared to NASX’s 10.2% gains in 2025 and 20.1% surge over the past year.

To confirm the downtrend, PLD stock has remained mostly below its 200-day moving average since October last year, with some fluctuations. However, the stock has climbed slightly above its 50-day moving average in recent weeks.

Prologis’ stock prices gained 1.4% in the trading session following the release of its robust Q2 results on Jul. 16. The quarter was marked with an impressive occupancy and retention rate, along with solid 4.9% growth in cash same-store NOI. Driven by solid rental income and other revenue growth, the company’s overall topline for the quarter surged 8.8% year-over-year to $2.2 billion, exceeding the Street expectations by a notable margin. Further, its core FFO per share increased by approximately 9% year-over-year to $1.46, surpassing the consensus estimates by 3.6%.

Meanwhile, PLD has outperformed its peer, EastGroup Properties, Inc.’s (EGP) 3.3% uptick in 2025, but underperformed EGP’s 11% decline over the past year.

Among the 25 analysts covering the PLD stock, the overall consensus rating is a “Moderate Buy.” Its mean price target of $120.55 suggests an 8.3% upside potential from current price levels.