Prologis (NYSE:PLD) Raised to “Outperform” at Robert W. Baird

Prologis (NYSE:PLD) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Monday, MarketBeat Ratings reports. The brokerage presently has a $123.00 target price on the real estate investment trust’s stock, down from their previous target price of $124.00. Robert W. Baird’s target price would indicate a potential upside of 15.36% from the stock’s current price.

Other research analysts also recently issued reports about the company. Truist Financial dropped their price target on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Scotiabank dropped their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. Barclays lifted their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Raymond James restated an “outperform” rating and set a $125.00 price objective (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reduced their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.25.

Prologis Stock Down 0.0 %

Shares of PLD stock opened at $106.62 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis has a one year low of $100.82 and a one year high of $135.76. The company’s fifty day moving average price is $111.49 and its 200-day moving average price is $118.63. The company has a market capitalization of $98.75 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 3.27 and a beta of 1.09.

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

Institutional Trading of Prologis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLD. Semmax Financial Advisors Inc. purchased a new position in shares of Prologis during the second quarter valued at approximately $27,000. Sunbelt Securities Inc. boosted its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Wetzel Investment Advisors Inc. bought a new position in Prologis in the 2nd quarter valued at $31,000. Dunhill Financial LLC increased its stake in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Finally, Hara Capital LLC bought a new stake in shares of Prologis during the third quarter worth $48,000. 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.