Prologis (NYSE:PLD) Price Target Cut to $117.00

Prologis (NYSE:PLD) had its target price cut by Robert W. Baird from $137.00 to $117.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s price target indicates a potential upside of 11.93% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group dropped their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. Morgan Stanley boosted their price objective on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. cut their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $132.35.

Prologis Price Performance

Shares of Prologis stock opened at $104.53 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $122.66 and its two-hundred day moving average price is $121.66. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52. The stock has a market cap of $96.78 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05.

Institutional Investors Weigh In On Prologis

A number of large investors have recently added to or reduced their stakes in the stock. Family Legacy Inc. boosted its position in Prologis by 0.5% during the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after purchasing an additional 87 shares during the period. Lockerman Financial Group Inc. lifted its holdings in shares of Prologis by 2.0% during the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after buying an additional 87 shares during the last quarter. Hixon Zuercher LLC lifted its holdings in shares of Prologis by 0.6% during the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after buying an additional 88 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Prologis by 11.0% during the fourth quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 90 shares during the last quarter. Finally, CVA Family Office LLC lifted its holdings in shares of Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 94 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Company Profile

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.