San Francisco, California-based Prologis, Inc. (PLD) is the global leader in logistics real estate, focusing on high-barrier, high-growth markets. With a market cap of $97.9 billion, Prologis leases modern logistics facilities to a diverse base of customers, principally across business-to-business and retail/online fulfillment categories. The real estate giant is expected to release its Q4 earnings before the market opens on Tuesday, Jan. 21.

Ahead of the event, analysts expect Prologis to report core funds from operations (FFO) of $1.38 per share, up 9.5% from $1.26 per share reported in the year-ago quarter. Furthermore, the company has consistently surpassed or matched Wall Street’s bottom-line estimates in each of the past four quarters. Its core FFO per share of $1.43 for the last reported quarter surpassed analysts’ estimates by 4.4%.

For fiscal 2024, analysts expect Prologis to report a core FFO per share of $5.45, down 2.9% from $5.61 in fiscal 2023. However, in fiscal 2025, its core FFO per share is expected to grow 6.4% year-over-year to $5.80.

PLD stock prices have tanked 20.7% over the past 52 weeks, substantially underperforming the S&P 500 Index’s ($SPX) 23.3% returns and the Real Estate Select Sector SPDR Fund’s (XLRE) 1.5% gains during the same time frame.

Prologis stock prices surged 4.6% after the release of its Q3 results on Oct. 16 as the company reported a strong growth in profitability. Its total revenues grew 6.3% year-over-year to over $2 billion driven by an increase in rental and other revenues. Its net earnings to shareholders surged 34.6% year-over-year to $1 billion. However, this surge was primarily attributable to higher disposition gains. Prologis’ net gains from the disposition of investments in real estate increased by a massive 235.3% compared to the year-ago quarter to $434.4 million.

Nevertheless, its same-store property cash NOI also grew by a substantial 7.2% year-over-year to $1.3 billion. And the company remains confident in its long-term demand drivers and is in an enviable position as the partner of choice for leading global customers, to meet their needs in supply chain, digital and energy infrastructure.

The consensus opinion on PLD stock is moderately bullish with an overall “Moderate Buy” rating. Out of the 23 analysts covering the stock, 13 recommend “Strong Buy,” two advise “Moderate Buy,” seven suggest “Hold,” and one advocates a “Strong Sell” rating. Its mean price target of $131.59 indicates a staggering 24.5% upside potential from current price levels.