PLD

AI Research

5.7GW data center pipeline + Citi Buy $145 PT → PLD logistics REIT pivots to AI infra

Prologis unveiled a 5.7 gigawatt data center development pipeline, representing a major strategic expansion beyond its core industrial logistics real estate business into high-demand AI computing infrastructure. Citi reiterated a Buy rating with a $145 price target, highlighting that PLD's land bank and power grid relationships give it a structural advantage in data center development versus pure-play competitors. The company declared a quarterly dividend of $1.07 per share, though rising construction costs and power procurement challenges could delay the data center pipeline timeline.