Prologis (NYSE:PLD) Price Target Cut to $124.00

Prologis (NYSE:PLD) had its target price dropped by investment analysts at Royal Bank of Canada from $145.00 to $124.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 15.03% from the stock’s current price.

Several other equities analysts have also commented on the stock. UBS Group dropped 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. BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $145.00 to $112.00 in a research report on Monday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group dropped their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Raymond James lifted their target price on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Trading Up 3.0 %

PLD opened at $107.80 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. Prologis has a one year low of $96.64 and a one year high of $137.52. The company has a market cap of $99.81 billion, a P/E ratio of 31.52, a PEG ratio of 2.20 and a beta of 1.05. The business’s 50-day simple moving average is $121.06 and its 200-day simple moving average is $121.90.

Institutional Investors Weigh In On Prologis

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