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

Prologis (NYSE:PLD) had its price target cut by analysts at BTIG Research from $154.00 to $134.00 in a research report issued on Friday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s target price points to a potential upside of 22.36% from the stock’s current price.

Several other brokerages have also recently issued reports on PLD. Raymond James reiterated an “outperform” rating and set a $125.00 price target (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. 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. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, Truist Financial reduced their price objective on Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.67.

Prologis Stock Down 1.3 %

Shares of PLD stock opened at $109.51 on Friday. Prologis has a 1 year low of $100.82 and a 1 year high of $135.76. The stock has a market cap of $101.43 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The business’s fifty day moving average is $110.34 and its 200-day moving average is $118.29. 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 issued 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the business posted $1.30 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts expect that Prologis will post 5.45 earnings per share for the current fiscal year.

Institutional Trading of Prologis

Hedge funds and other institutional investors have recently modified their holdings of the company. Empirical Asset Management LLC raised its holdings in shares of Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after acquiring an additional 52,963 shares in the last quarter. Sunflower Bank N.A. purchased a new stake in shares of Prologis during the third quarter worth $249,000. Cardano Risk Management B.V. raised its holdings in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after acquiring an additional 25,266 shares in the last quarter. Coronation Fund Managers Ltd. bought a new position in Prologis during the second quarter valued at about $878,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in Prologis by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after buying an additional 29,400 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other 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.