Prologis (NYSE:PLD) Price Target Cut to $138.00

Prologis (NYSE:PLD - Get Free Report) had its price objective cut by equities research analysts at UBS Group from $151.00 to $138.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. UBS Group's price objective suggests a potential upside of 31.84% from the company's previous close.

Several other equities analysts have also commented on the company. Raymond James increased their target price on Prologis from $130.00 to $145.00 and gave the company a "strong-buy" rating in a report on Wednesday, January 24th. Evercore ISI dropped their target price on Prologis from $136.00 to $123.00 and set an "in-line" rating on the stock in a report on Thursday. Morgan Stanley increased their target price on Prologis from $128.00 to $141.00 and gave the company an "overweight" rating in a report on Wednesday, January 24th. Barclays decreased their price objective on shares of Prologis from $141.00 to $135.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada upped their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $140.00.

Prologis Stock Down 1.7 %

Shares of Prologis stock traded down $1.82 during trading hours on Thursday, reaching $104.67. 6,310,203 shares of the company were exchanged, compared to its average volume of 3,391,285. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52. The stock's fifty day moving average is $128.99 and its 200 day moving average is $122.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $96.82 billion, a PE ratio of 31.82, a PEG ratio of 2.29 and a beta of 1.00.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 EPS. As a group, equities research analysts forecast that Prologis will post 5.5 earnings per share for the current year.

Institutional Investors Weigh In On Prologis

Several hedge funds have recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Prologis by 38.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,099,029 shares of the real estate investment trust's stock worth $143,116,000 after buying an additional 302,725 shares during the period. Colton Groome Financial Advisors LLC lifted its position in Prologis by 1.3% in the first quarter. Colton Groome Financial Advisors LLC now owns 11,047 shares of the real estate investment trust's stock valued at $1,439,000 after purchasing an additional 137 shares during the period. Stewart & Patten Co. LLC lifted its position in Prologis by 1.0% in the first quarter. Stewart & Patten Co. LLC now owns 127,734 shares of the real estate investment trust's stock valued at $16,634,000 after purchasing an additional 1,270 shares during the period. Oak Thistle LLC acquired a new stake in Prologis in the first quarter valued at about $200,000. Finally, Miracle Mile Advisors LLC lifted its position in Prologis by 1.3% in the first quarter. Miracle Mile Advisors LLC now owns 14,236 shares of the real estate investment trust's stock valued at $1,854,000 after purchasing an additional 183 shares during the period. 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.