BUZZ-BMO raises PT on Prologis, Eastgroup on resilient occupancy
Reuters
Yesterday
BUZZ-BMO raises PT on Prologis, Eastgroup on resilient occupancy
** BMO lifts PT on real estate investment trusts Prologis PLD.N and Eastgroup Properties EGP.N
** Brokerage says stable occupancy and solid cash income growth should help industrial REITs withstand slower rent growth and support current valuations
** Adds PLD's leasing is slightly ahead of plan, demand remains strong in key regions, and development activity is returning to normal with more speculative projects expected in 2026
** Reiterates "market perform" rating on PLD and "outperform" rating on EGP
** As of last close, YTD Prologis was up 5% and Eastgroup up 6.6%
Company
New PT
Old PT
Upside from the stock's last close
Prologis
$137
$135
3%
Eastgroup Properties
$220
$205
15.8%
(Reporting by Apratim Sarkar in Bengaluru)
((Apratim.Sarkar@thomsonreuters.com))
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