Wolfe Research Issues Pessimistic Forecast for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLD) had its price target dropped by stock analysts at Wolfe Research from $135.00 to $128.00 in a research note issued on Friday. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Wolfe Research’s price target suggests a potential upside of 16.88% from the company’s current price.

PLD has been the subject of several other research reports. Mizuho dropped their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Truist Financial lowered their target price on shares of Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a research note on Friday. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Scotiabank lowered 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 note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Price Performance

PLD stock opened at $109.51 on Friday. The company has a fifty day moving average price of $110.34 and a 200-day moving average price of $118.29. The company has a market capitalization of $101.43 billion, a P/E ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. Prologis has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 EPS. As a group, equities analysts expect that Prologis will post 5.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. ASB Consultores LLC grew its holdings in shares of Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 86 shares during the last quarter. CX Institutional grew its holdings in shares of Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares during the last quarter. DT Investment Partners LLC grew its holdings in shares of Prologis by 9.8% during the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 93 shares during the last quarter. Carmel Capital Partners LLC boosted its holdings in Prologis by 2.6% during the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after purchasing an additional 94 shares during the last quarter. Finally, Yoder Wealth Management Inc. boosted its holdings in Prologis by 4.0% during the third quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock worth $316,000 after purchasing an additional 97 shares during the last quarter. 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 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.