Wolfe Research Downgrades Prologis (NYSE:PLD) to Peer Perform

Prologis (NYSE:PLD) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports.

Several other analysts have also commented on PLD. Truist Financial increased their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Evercore ISI reduced their price objective on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research note on Thursday, April 17th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Morgan Stanley reduced their target price on Prologis to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Finally, Robert W. Baird lifted their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.32.

Prologis Price Performance

NYSE PLD opened at $99.93 on Monday. The firm has a market capitalization of $92.63 billion, a PE ratio of 24.98, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis has a 12 month low of $85.35 and a 12 month high of $132.57. The company’s 50 day simple moving average is $110.59 and its 200 day simple moving average is $112.87.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, equities research analysts forecast that Prologis will post 5.73 EPS for the current fiscal year.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Prologis

A number of institutional investors have recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp bought a new position in Prologis in the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis during the fourth quarter valued at $27,000. Centricity Wealth Management LLC bought a new position in Prologis in the fourth quarter valued at about $30,000. REAP Financial Group LLC increased its position in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 84 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in Prologis during the 4th quarter worth about $34,000. 93.50% of the stock is owned by 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.