Based on recent action it's pretty safe to assume that PLD no longer behaves like an investment but instead like a trading vehicle.
REITS are supposed to behave like bonds aren't they? Price stability with a dividend.
The fact that this isn't occurring is a tell tale sign that the ship has a serious leak or is indeed sinking.
The "development group" at PLD engaged in a frenzy of deals that generated paper profits with stock option gains for PLD executives. These deals also provided the "development group" folks some large cash bonuses. However, the deals were unstainable in a declining RE market or during a sick macroeconomy. This frenzy severely jeapordized the long term financial health of the company, that can no longer "trade like a bond" because they're stuck with a bunch of bad deals done by these folks. Schartz resigning has no effect here; the damage has been done.
The PLD shareholders and employees that did not directly benefit from the aforementioned stock options and bonuses are the bag holders here.
It's all Doom and Gloom, the sky is falling, we as a country are more worried about General Motors survival then anything else, I mean we could give GM a trillion dollars and no body will want their cars.
Edward Deming back in the 40's and 50's approached GM, Ford and Chrysler and they stuck up their noses at him.
The next wave of cars will cheap clean cars, how can GM compete?
As GM should start selling its assets, Prologis should start selling it's Raw Land, one must do what they have to do, the sooner the better.
SRS looks over bought to me, thus it's worth another 25 to 50 points.