Bank of America Comments on Recent Prologis Upgrade

Bank of America is commenting on a recent tour of a Europe warehouse tour of Prologis' PLD, which the bank says supports its recent upgrade to Buy. “BofAML's Global Real Estate Research Team hosted a European Property Tour through London, Frankfurt and Paris last week,” Bank of America writes. “The multi-sector tour included site visits and discussions with the leading developers, landlords and brokers in these markets. “Market conditions and sentiment for industrial and Prologis were relatively positive, supporting our recent upgrade to Buy. We're comfortable PLD is on its way to creating the pre-eminent global model in the warehouse sector with $44B of AUM across North America, Europe and Asia.” Prologis closed Monday at $34.37.