Prologis (NYSE:PLD) Rating Lowered to Underperform at BMO Capital Markets

Prologis (NYSE:PLD) was downgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a research report issued on Friday, Marketbeat reports. They presently have a $104.00 price target on the real estate investment trust’s stock, down from their previous price target of $120.00. BMO Capital Markets’ price target suggests a potential downside of 7.14% from the company’s current price.

Several other research analysts have also recently issued reports on PLD. Scotiabank reduced their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Morgan Stanley boosted their price target on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.13.

Prologis Stock Down 1.6 %

Prologis stock opened at $112.00 on Friday. The business’s 50-day simple moving average is $117.57 and its two-hundred day simple moving average is $118.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $103.73 billion, a PE ratio of 33.84, a PEG ratio of 3.36 and a beta of 1.07. Prologis has a fifty-two week low of $101.11 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the company posted $1.30 EPS. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts anticipate that Prologis will post 5.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American Capital Advisory LLC acquired a new stake in shares of Prologis in the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. purchased a new position in Prologis in the 2nd quarter valued at $27,000. Sunbelt Securities Inc. grew its holdings in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis in the second quarter valued at about $31,000. Finally, Dunhill Financial LLC raised its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

About Prologis

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.