Prologis (NYSE:PLD) Price Target Cut to $138.00 by Analysts at UBS Group

Prologis (NYSE:PLD) had its target price dropped by UBS Group from $151.00 to $138.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s target price indicates a potential upside of 32.40% from the stock’s current price.

Several other research analysts have also weighed in on PLD. Barclays reduced their target price on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday. Mizuho reiterated a “neutral” rating and set a $130.00 target price on shares of Prologis in a report on Tuesday, April 2nd. Morgan Stanley lifted their target price on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Robert W. Baird lifted their target price on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. Finally, Raymond James lifted their target price on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $140.00.

Prologis Trading Down 2.1 %

Shares of NYSE:PLD traded down $2.26 during midday trading on Thursday, hitting $104.23. The company had a trading volume of 3,039,523 shares, compared to its average volume of 3,349,714. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. The stock has a market cap of $96.42 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 2.29 and a beta of 1.00. The firm has a fifty day simple moving average of $128.99 and a 200 day simple moving average of $122.19.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. On average, analysts predict that Prologis will post 5.5 EPS for the current year.

Hedge Funds Weigh In On Prologis

Institutional investors and hedge funds have recently made changes to their positions in the company. Columbia Trust Co 01012016 grew its position in shares of Prologis by 16.0% in the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after purchasing an additional 723 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its stake in shares of Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after buying an additional 11,882 shares during the period. DNB Asset Management AS boosted its stake in shares of Prologis by 17.1% in the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after buying an additional 42,073 shares during the period. Grassi Investment Management boosted its stake in shares of Prologis by 31.8% in the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after buying an additional 60,900 shares during the period. Finally, Selway Asset Management bought a new stake in shares of Prologis in the third quarter valued at approximately $177,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.