Prologis (NYSE:PLD) Downgraded by Wall Street Zen to "Sell"

Prologis (NYSE:PLD - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Thursday.

A number of other equities analysts have also recently issued reports on the company. Scotiabank increased their target price on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. BNP Paribas raised Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Royal Bank of Canada dropped their target price on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. BMO Capital Markets dropped their target price on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, UBS Group increased their target price on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average price target of $120.42.

Prologis Stock Performance

Prologis stock traded down $0.97 during trading hours on Thursday, hitting $104.13. The stock had a trading volume of 3,075,490 shares, compared to its average volume of 4,191,907. The company has a 50-day moving average of $104.26 and a two-hundred day moving average of $110.85. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a market cap of $96.62 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Prologis has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, equities research analysts anticipate that Prologis will post 5.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. REAP Financial Group LLC raised its position in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 84 shares in the last quarter. Phoenix Financial Ltd. raised its position in Prologis by 1.0% during the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after purchasing an additional 86 shares in the last quarter. Principle Wealth Partners LLC raised its position in Prologis by 2.9% during the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock valued at $349,000 after purchasing an additional 92 shares in the last quarter. Black Diamond Financial LLC raised its position in Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock valued at $449,000 after purchasing an additional 93 shares in the last quarter. Finally, Berkshire Bank raised its position in Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after purchasing an additional 95 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.