Prologis, Inc. vs WELLTOWER INC., two REIT stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Two of the sector's largest names, Prologis at $134B and Welltower at $165B, priced for different growth: Prologis for logistics demand at 35.2 times earnings, Welltower for senior-housing occupancy at 113, both multiples inflated by REIT depreciation. Prologis pays the bigger dividend, 2.89% against 1.24%, and yields more free cash, 3.84% against 1.79%. Prologis nets 42.5% on its warehouses; Welltower's operating-heavy senior-housing model runs thinner. Both carry conservative leverage, 0.6 and 0.40 turns. The two mega-cap landlords bet on opposite tailwinds: Prologis on the physical backbone of e-commerce, Welltower on the demographic wave of aging, and while both are quality franchises, Prologis returns more cash today while Welltower asks more patience for its occupancy ramp.
Comparison updated 2026-07-11.
| Metric | PLD | WELL |
|---|---|---|
| Price | $139.85 | $227.28 |
| Market cap | $133.9B | $165.1B |
| Sector | REIT | REIT |
| Stage | Mature | Growth |
| P/E | 35.2 | 113.1 |
| P/B | 2.31 | 3.69 |
| P/S | 14.97 | 14.03 |
| EV/EBITDA | 22.7 | 80.3 |
| Revenue growth | +6.8% | +37.5% |
| Operating margin | 52.7% | — |
| Net margin | 42.5% | 12.4% |
| Return on equity | 6.6% | 3.3% |
| Return on assets | 3.9% | 2.2% |
| Return on invested capital | 4.8% | — |
| FCF yield | 3.8% | 1.8% |
| Dividend yield | 2.9% | 1.2% |
| Debt / equity | 0.60 | 0.40 |
| Altman Z (solvency) | 2.12 | 4.86 |
| Piotroski F (quality) | 8 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.