Prologis (NYSE:PLD) PT Lowered to $120.00

Prologis (NYSE:PLD - Get Free Report) had its price target lowered by equities researchers at Argus from $139.00 to $120.00 in a report released on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. Argus' price objective would suggest a potential upside of 15.32% from the company's current price.

A number of other research firms also recently weighed in on PLD. Evercore ISI decreased their price target on shares of Prologis from $136.00 to $123.00 and set an "in-line" rating on the stock in a research note on Thursday. Barclays dropped their target price on Prologis from $141.00 to $135.00 and set an "overweight" rating for the company in a report on Wednesday, April 17th. BMO Capital Markets downgraded shares of Prologis from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $145.00 to $112.00 in a research note on Monday. UBS Group cut their price target on shares of Prologis from $151.00 to $138.00 and set a "buy" rating for the company in a report on Thursday. Finally, The Goldman Sachs Group cut their target price on shares of Prologis from $163.00 to $140.00 and set a "buy" rating for the company in a research note on Monday. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $135.41.

Prologis Stock Up 0.6 %

NYSE:PLD traded up $0.57 during mid-day trading on Monday, reaching $104.06. The stock had a trading volume of 3,672,979 shares, compared to its average volume of 3,442,791. The stock has a market cap of $96.26 billion, a P/E ratio of 30.43, a PEG ratio of 2.08 and a beta of 1.00. The business's 50 day moving average is $127.31 and its 200 day moving average is $122.19. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Park Place Capital Corp grew its position in Prologis by 113.8% in the third quarter. Park Place Capital Corp now owns 10,275 shares of the real estate investment trust's stock valued at $1,153,000 after purchasing an additional 5,468 shares in the last quarter. BTC Capital Management Inc. raised its holdings in Prologis by 1.8% during the third quarter. BTC Capital Management Inc. now owns 61,945 shares of the real estate investment trust's stock worth $6,951,000 after acquiring an additional 1,106 shares in the last quarter. Brown Miller Wealth Management LLC boosted its position in Prologis by 11.8% during the third quarter. Brown Miller Wealth Management LLC now owns 12,841 shares of the real estate investment trust's stock valued at $1,440,000 after purchasing an additional 1,359 shares during the last quarter. B.O.S.S. Retirement Advisors LLC increased its position in shares of Prologis by 13.1% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 19,727 shares of the real estate investment trust's stock worth $2,214,000 after purchasing an additional 2,290 shares during the last quarter. Finally, Strategic Blueprint LLC raised its stake in shares of Prologis by 7.4% during the 3rd quarter. Strategic Blueprint LLC now owns 2,041 shares of the real estate investment trust's stock worth $229,000 after purchasing an additional 140 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

About Prologis

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.