Prologis (NYSE:PLD) Rating Increased to Outperform at Robert W. Baird

Prologis (NYSE:PLD) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Monday,Benzinga reports. The firm currently has a $123.00 target price on the real estate investment trust’s stock, down from their prior target price of $124.00. Robert W. Baird’s price target points to a potential upside of 16.44% from the stock’s current price.

Other research analysts have also issued reports about the company. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. 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 report on Monday, October 21st. Truist Financial reduced their target price on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Scotiabank lowered their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. Finally, Raymond James restated an “outperform” rating and issued a $125.00 price objective (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.25.

Prologis Stock Performance

NYSE PLD opened at $105.63 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. The company has a market cap of $97.83 billion, a P/E ratio of 31.91, a P/E/G ratio of 3.27 and a beta of 1.09. The stock has a 50-day moving average of $111.89 and a two-hundred day moving average of $118.66. Prologis has a 1-year low of $100.82 and a 1-year high of $135.76.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. 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 firm posted $1.30 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Prologis will post 5.45 EPS for the current year.

Institutional Trading of Prologis

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLD. ASB Consultores LLC increased its holdings in shares of Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares during the period. Arbor Capital Management Inc. ADV raised its position in Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after buying an additional 87 shares during the last quarter. CX Institutional boosted its holdings in shares of Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA increased its stake in shares of Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 90 shares during the period. Finally, DT Investment Partners LLC raised its holdings in 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 worth $132,000 after purchasing an additional 93 shares in the last quarter. 93.50% of the stock is 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.