Prologis (NYSE:PLD) Given New $124.00 Price Target at Royal Bank of Canada

Prologis (NYSE:PLD - Get Free Report) had its target price lowered by equities research analysts at Royal Bank of Canada from $145.00 to $124.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Royal Bank of Canada's price objective suggests a potential upside of 18.43% from the company's previous close.

Several other brokerages also recently commented on PLD. UBS Group lowered their price objective on shares of Prologis from $151.00 to $138.00 and set a "buy" rating for the company in a research note on Thursday, April 18th. Evercore ISI dropped their price target on Prologis from $136.00 to $123.00 and set an "in-line" rating on the stock in a research report on Thursday, April 18th. StockNews.com cut Prologis from a "hold" rating to a "sell" rating in a research note on Wednesday, April 24th. Raymond James increased their target price on Prologis from $130.00 to $145.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, January 24th. Finally, Morgan Stanley upped their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.12.

Prologis Trading Down 1.1 %

Shares of NYSE PLD traded down $1.19 during mid-day trading on Monday, hitting $104.70. The stock had a trading volume of 4,259,743 shares, compared to its average volume of 3,559,998. The business has a 50 day moving average price of $121.55 and a two-hundred day moving average price of $121.86. 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 quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $96.94 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05.

Institutional Investors Weigh In On Prologis

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Concord Investment Counsel Inc. acquired a new stake in Prologis during the first quarter valued at $2,308,000. Signaturefd LLC increased its stake in shares of Prologis by 7.7% in the 1st quarter. Signaturefd LLC now owns 13,668 shares of the real estate investment trust's stock valued at $1,780,000 after purchasing an additional 979 shares in the last quarter. Catalina Capital Group LLC acquired a new position in Prologis in the 1st quarter worth about $227,000. Avidian Wealth Solutions LLC boosted its position in Prologis by 3.1% during the first quarter. Avidian Wealth Solutions LLC now owns 7,155 shares of the real estate investment trust's stock worth $932,000 after purchasing an additional 217 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Prologis in the first quarter valued at approximately $11,131,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.