Shares closed at $142.02 on Thursday as trading volume reached 3.8 million, above the 50-day average of 3.5 million.
The stock finished 2.35% below its 52-week high of $145.44 set on 17 April, while W. P. Carey, Rexford Industrial Realty and EastGroup Properties posted smaller gains.
The move came during a broad market rally, with the S&P 500 up 1.02% to 7,209.01 and the Dow Jones Industrial Average rising 1.62% to 49,652.14.
Prologis stock is soaring but called 25% overvalued. Is its $25 billion AI data center bet a bubble about to burst?
While Prologis pivots to risky data centers, are its industrial rivals poised for safer, more stable long-term growth?