What changed
$PLD — BUY 📊 | 6 MONTHS THESIS
🎯 Q1 2026 | Rev $2.3B | EPS $1.03 vs $0.72 🟢 | Margin 73.3%
💡 Consensus expected EPS $0.72; actual $1.03 (FFO/share ~$1.81 annualized) driven by stronger-than-anticipated rent growth and development profits. The market is pricing modest growth; we see accelerating growth from mark-to-market on leases and a record development pipeline, which will drive further positive revisions and multiple expansion.
📉 Reward/risk: 2.12:1
🏢 Business Quality: 9/10 - Global leader in industrial logistics with an irreplaceable, well-located portfolio, strong balance sheet, and proven development capabilities.
📊 Valuation: cheap - Trades at 20x annualized Q1 2026 FFO, below its 5-year average of 22–25x and private market NAVs implying 10–15% upside.
📊 Our read: BUY. Full analysis →
https://stockduty.xyz/s/PLD0611