Prologis heads into Q3 earnings with shares down 6.5% over the month

On Oct. 12, ORTEX said PLD had fallen 6.5% over the prior month to $129.49 ahead of its Oct. 15 earnings report; consensus target was $159.75. It cited RBC Capital’s August upgrade to Outperform and $160 target, and Wells Fargo’s Sept. 1 target cut from $167 to $166, while retaining Overweight. ORTEX noted industrial supply and falling rents as bearish factors.