Prologis (NYSE:PLD) Rating Increased to Strong-Buy at Baird R W

Prologis (NYSE:PLD) was upgraded by analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also weighed in on PLD. Barclays upped their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Raymond James restated an “outperform” rating and issued a $125.00 price objective (down from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. JPMorgan Chase & Co. decreased their target price 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 restated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Scotiabank lowered their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.25.

Prologis Price Performance

Shares of NYSE PLD opened at $106.62 on Monday. Prologis has a twelve month low of $100.82 and a twelve month high of $135.76. 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. The firm has a 50-day moving average of $111.49 and a two-hundred day moving average of $118.63. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 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 company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts expect that Prologis will post 5.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLD. Coronation Fund Managers Ltd. acquired a new position in Prologis during the second quarter valued at approximately $878,000. Caprock Group LLC raised its position in shares of Prologis by 23.8% in the second quarter. Caprock Group LLC now owns 13,990 shares of the real estate investment trust’s stock valued at $1,571,000 after purchasing an additional 2,687 shares during the period. PFG Investments LLC lifted its position in Prologis by 7.1% during the second quarter. PFG Investments LLC now owns 19,662 shares of the real estate investment trust’s stock worth $2,208,000 after acquiring an additional 1,302 shares during the last quarter. Prudential PLC boosted its stake in Prologis by 4.9% in the 2nd quarter. Prudential PLC now owns 40,921 shares of the real estate investment trust’s stock valued at $4,596,000 after purchasing an additional 1,905 shares during the period. Finally, Wedbush Securities Inc. grew its stake in shares of Prologis by 11.7% in the second quarter. Wedbush Securities Inc. now owns 11,548 shares of the real estate investment trust’s stock valued at $1,297,000 after acquiring an additional 1,206 shares in the last quarter. 93.50% of the stock is currently owned by 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.