** 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))