Shares of Prologis Inc. (NYSE: PLD) have rallied 19% in the past three months, outperforming the industry's growth of 16.1%.
This industrial real estate investment trust (REIT) targets investments in distribution facilities for customers who are engaged in global trade and depend on the efficient movement of goods through the global supply chain. Apart from having a solid portfolio and gaining from healthy industry fundamentals, PLD stock is benefiting from the narrative surrounding the interest rate cut in the near term.
In July 2024, Prologis reported a second-quarter 2024 core FFO per share of $1.34, outpacing the Zacks Consensus Estimate by a penny. The quarterly results reflected a rise in rental revenues and healthy leasing activity.
Image Source: Zacks Investment Research
Factors Behind PLD Stock's Price Surge: Will the Trend Last?
In a rising e-commerce market, companies are making immense efforts to improve supply-chain efficiencies, propelling demand for logistics infrastructure and efficient distribution networks. Given Prologis' solid capacity to offer modern logistics facilities in some of the busiest distribution markets across the globe, it ...
