Prologis (NYSE:PLD) Price Target Lowered to $134.00 at BTIG Research

Prologis (NYSE:PLD) had its target price reduced by analysts at BTIG Research from $154.00 to $134.00 in a research note issued on Friday. The firm currently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective points to a potential upside of 21.88% from the stock’s previous close.

Several other brokerages have also issued reports on PLD. JPMorgan Chase & Co. reduced their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Mizuho decreased their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and cut their price target for the company from $124.00 to $123.00 in a report on Monday, January 6th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Truist Financial cut their target price on Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.67.

Prologis Stock Down 0.9 %

Shares of PLD stock traded down $0.99 during trading on Friday, hitting $109.94. 3,021,620 shares of the company were exchanged, compared to its average volume of 4,381,089. The firm has a market capitalization of $101.82 billion, a price-to-earnings ratio of 33.24, a P/E/G ratio of 2.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The business’s 50-day simple moving average is $110.53 and its 200 day simple moving average is $118.36. Prologis has a twelve month low of $100.82 and a twelve month high of $135.76.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.30 earnings per share. As a group, analysts forecast that Prologis will post 5.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLD. True North Advisors LLC grew its position in Prologis by 5.5% during the fourth quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 122 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Prologis by 3.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 459,154 shares of the real estate investment trust’s stock worth $48,533,000 after purchasing an additional 16,222 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its position in shares of Prologis by 4.6% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 2,450 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 108 shares during the period. Baker Ellis Asset Management LLC raised its stake in shares of Prologis by 4.4% in the fourth quarter. Baker Ellis Asset Management LLC now owns 9,550 shares of the real estate investment trust’s stock valued at $1,009,000 after purchasing an additional 400 shares in the last quarter. Finally, Investment Advisory Group LLC lifted its position in Prologis by 2.8% in the fourth quarter. Investment Advisory Group LLC now owns 7,236 shares of the real estate investment trust’s stock worth $765,000 after purchasing an additional 200 shares during the period. 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 March 31, 2024, 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.