Wells Fargo & Company Has Lowered Expectations for Prologis (NYSE:PLD) Stock Price

Key Points

• Wells Fargo lowered Prologis’ price target from $166 to $158 while maintaining an “overweight” rating, implying 22.65% potential upside from the previous close.
• Analyst sentiment remains favorable: Prologis has a “Moderate Buy” consensus rating and an average price target of $154.05, based on one Strong Buy, 18 Buys and six Holds.
• Prologis shares opened at $128.82, while institutional investors and hedge funds own approximately 93.5% of the company’s stock.

Prologis (NYSE:PLD - Get Free Report) had its price objective dropped by Wells Fargo & Company from $166.00 to $158.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target points to a potential upside of 22.65% from the company's previous close.

PLD has been the subject of a number of other research reports. UBS Group set a $150.00 target price on shares of Prologis in a research note on Friday, October 16th. Royal Bank Of Canada upgraded Prologis from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $148.00 to $160.00 in a report on Tuesday, August 4th. Williams Trading set a $150.00 price objective on Prologis in a research report on Friday, October 16th. Jefferies Financial Group reissued a "buy" rating and set a $149.00 price objective on shares of Prologis in a research report on Monday. Finally, Raymond James Financial upgraded Prologis from a "market perform" rating to an "outperform" rating and set a $163.00 target price on the stock in a research note on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Prologis currently has an average rating of "Moderate Buy" and an average target price of $154.05.

Prologis Stock Up 0.7%

PLD stock opened at $128.82 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $122.45 billion, a PE ratio of 28.35, a P/E/G ratio of 1.46 and a beta of 1.27. Prologis has a 12 month low of $121.40 and a 12 month high of $153.35. The firm has a 50 day simple moving average of $132.95 and a 200 day simple moving average of $137.78.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Sandy Cove Advisors LLC grew its position in Prologis by 1.9% in the second quarter. Sandy Cove Advisors LLC now owns 3,854 shares of the real estate investment trust's stock valued at $522,000 after acquiring an additional 73 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of Prologis by 5.0% during the second quarter. CoreCap Advisors LLC now owns 1,538 shares of the real estate investment trust's stock valued at $208,000 after acquiring an additional 73 shares during the period. Boltwood Capital Management lifted its holdings in shares of Prologis by 1.5% during the second quarter. Boltwood Capital Management now owns 5,170 shares of the real estate investment trust's stock valued at $700,000 after acquiring an additional 75 shares during the period. Hibernia Wealth Partners LLC boosted its stake in shares of Prologis by 2.5% in the 1st quarter. Hibernia Wealth Partners LLC now owns 3,070 shares of the real estate investment trust's stock valued at $406,000 after purchasing an additional 76 shares in the last quarter. Finally, Quadrant Private Wealth Management LLC boosted its stake in shares of Prologis by 4.4% in the 1st quarter. Quadrant Private Wealth Management LLC now owns 1,818 shares of the real estate investment trust's stock valued at $240,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

About Prologis

Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.

The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.

Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.

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