UBS Group Forecasts Strong Price Appreciation for Prologis (NYSE:PLD) Stock

Prologis (NYSE:PLD - Get Free Report) had its price target lifted by investment analysts at UBS Group from $106.00 to $120.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the real estate investment trust's stock. UBS Group's price target indicates a potential upside of 10.67% from the stock's current price.

PLD has been the topic of a number of other research reports. Scotiabank boosted their price objective on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Morgan Stanley cut their price objective on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. BMO Capital Markets lowered their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Truist Financial lowered their target price on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $119.53.

Prologis Stock Up 1.9%

PLD traded up $2.04 during trading on Tuesday, reaching $108.43. The company had a trading volume of 4,764,713 shares, compared to its average volume of 4,183,486. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. Prologis has a 12 month low of $85.35 and a 12 month high of $132.57. The business's fifty day moving average price is $107.04 and its 200 day moving average price is $109.46. The company has a market cap of $100.62 billion, a P/E ratio of 27.11, a PEG ratio of 2.71 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Equities analysts anticipate that Prologis will post 5.73 EPS for the current year.

Institutional Trading of Prologis

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Prologis by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock worth $13,564,533,000 after buying an additional 869,310 shares during the period. Cohen & Steers Inc. grew its position in shares of Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after buying an additional 882,529 shares during the period. Geode Capital Management LLC grew its position in shares of Prologis by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after buying an additional 610,251 shares during the period. FMR LLC grew its position in shares of Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after buying an additional 1,875,978 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after buying an additional 334,907 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 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.