The Goldman Sachs Group Lowers Prologis (NYSE:PLD) Price Target to $140.00

Prologis (NYSE:PLD) had its price target cut by investment analysts at The Goldman Sachs Group from $163.00 to $140.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 33.51% from the company’s current price.

A number of other research firms also recently weighed in on PLD. Evercore ISI reduced their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. Morgan Stanley raised their price target on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Raymond James raised their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Finally, UBS Group reduced their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.41.

Prologis Trading Up 0.7 %

Shares of Prologis stock opened at $104.86 on Monday. The firm’s 50-day moving average price is $126.79 and its two-hundred day moving average price is $122.16. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $97.00 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 2.08 and a beta of 1.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in Prologis during the 4th quarter worth approximately $27,000. Optimum Investment Advisors bought a new stake in shares of Prologis in the 1st quarter valued at $26,000. Thompson Investment Management Inc. bought a new stake in shares of Prologis in the 4th quarter valued at $28,000. JFS Wealth Advisors LLC increased its stake in shares of Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares in the last quarter. Finally, Clear Investment Research LLC increased its stake in shares of Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.