Prologis (NYSE:PLD) Price Target Cut to $123.00

Prologis (NYSE:PLD) had its price objective lowered by investment analysts at Barclays from $135.00 to $123.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 17.30% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. UBS Group lowered their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Morgan Stanley upped their price objective on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. Finally, Raymond James upped their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given 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 $133.53.

Prologis Stock Performance

NYSE:PLD traded up $0.80 during mid-day trading on Monday, hitting $104.86. The company’s stock had a trading volume of 897,000 shares, compared to its average volume of 3,450,967. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $97.08 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 2.17 and a beta of 1.00. The business’s fifty day moving average is $125.06 and its two-hundred day moving average is $122.01.

Institutional Trading of Prologis

Several large investors have recently bought and sold shares of PLD. Columbia Trust Co 01012016 boosted its position in shares of Prologis by 16.0% during the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 723 shares during the period. Cyndeo Wealth Partners LLC boosted its position in shares of Prologis by 39.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after purchasing an additional 11,882 shares during the period. DNB Asset Management AS boosted its position in shares of Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares during the period. Grassi Investment Management boosted its position in shares of Prologis by 31.8% during the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after purchasing an additional 60,900 shares during the period. Finally, Desjardins Global Asset Management Inc. boosted its position in shares of Prologis by 255.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after purchasing an additional 11,582 shares during the period. Hedge funds and other institutional investors 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.