Prologis (NYSE:PLD) Rating Lowered to “Sell” at Wall Street Zen

Prologis (NYSE:PLD) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

PLD has been the topic of a number of other research reports. Evercore ISI cut their price objective on Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company cut their price target on Prologis from $146.00 to $119.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Morgan Stanley decreased their price objective on Prologis to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Scotiabank boosted their price objective on Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research report on Monday, May 12th. Finally, Barclays reduced their target price on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $120.42.

Prologis Price Performance

PLD opened at $107.18 on Friday. The stock’s 50-day moving average price is $104.61 and its 200 day moving average price is $110.06. Prologis has a 12-month low of $85.35 and a 12-month high of $132.57. The firm has a market cap of $99.45 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.70 and a beta of 1.25. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. As a group, sell-side analysts expect that Prologis will post 5.73 earnings per share for the current year.

Institutional Trading of Prologis

Institutional investors and hedge funds have recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in Prologis during the fourth quarter worth approximately $26,000. Activest Wealth Management grew its position in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares during the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of Prologis in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in shares of Prologis in the 4th quarter valued at $30,000. Finally, REAP Financial Group LLC raised its position in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 84 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Company Profile

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.