Prologis (NYSE:PLD) Price Target Cut to $135.00

Prologis (NYSE:PLD) had its price objective reduced by equities researchers at Barclays from $141.00 to $135.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price would suggest a potential upside of 27.21% from the stock’s current price.

PLD has been the subject of several other research reports. Morgan Stanley raised their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Evercore ISI restated an “in-line” rating and set a $136.00 price objective on shares of Prologis in a research report on Monday, March 18th. Robert W. Baird upped their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Raymond James upped their price objective 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, Royal Bank of Canada upped their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.27.

Prologis Stock Performance

Shares of Prologis stock traded down $8.62 during trading on Wednesday, hitting $106.12. 8,334,448 shares of the stock were exchanged, compared to its average volume of 3,314,133. The stock’s fifty day moving average is $129.44 and its 200 day moving average is $122.30. The stock has a market cap of $98.17 billion, a PE ratio of 32.16, a P/E/G ratio of 2.31 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. As a group, sell-side analysts anticipate that Prologis will post 5.5 EPS for the current year.

Hedge Funds Weigh In On Prologis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Independence Bank of Kentucky grew its holdings in Prologis by 38.2% during the first quarter. Independence Bank of Kentucky now owns 1,320 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 365 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in Prologis by 14.6% during the first quarter. Financial Management Professionals Inc. now owns 3,104 shares of the real estate investment trust’s stock valued at $404,000 after purchasing an additional 395 shares during the last quarter. AMF Tjanstepension AB grew its holdings in Prologis by 13.8% during the first quarter. AMF Tjanstepension AB now owns 2,299,443 shares of the real estate investment trust’s stock valued at $299,602,000 after purchasing an additional 278,964 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of Prologis by 0.3% in the first quarter. Artemis Investment Management LLP now owns 72,269 shares of the real estate investment trust’s stock worth $9,154,000 after acquiring an additional 236 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in shares of Prologis by 1.7% in the first quarter. 180 Wealth Advisors LLC now owns 38,289 shares of the real estate investment trust’s stock worth $4,986,000 after acquiring an additional 643 shares during the last quarter. Institutional investors and hedge funds 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.