BMO Capital Says Prologis (PLD) Can Benefit From Data Center Demand

​Prologis, Inc. (NYSE:PLD) is one of the Best Data Center REITs to Buy According to Analysts. It is a leading global real estate investment trust focused primarily on logistics and industrial properties, owning, operating, and developing approximately 1.3 billion square feet of facilities across 20 countries on four continents.

​The company also leverages its prime land bank near urban power infrastructure to develop data center “powered shells,” securing over 5 GW of power capacity, including 450 MW under construction.

​Recently, on May 7, BMO Capital upgraded Prologis, Inc. (NYSE:PLD) to Outperform from Neutral and raised the price target from $137 to $162. The firm noted that the company has the ability to benefit from data center demand. BMO also highlighted that in the first quarter earnings, data center suppliers represented around 10% of the company’s new leasing. The firm expects Prologis, Inc. (NYSE:PLD)’s earnings growth to accelerate based on growing data center demand.

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