Prologis (NYSE:PLD) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Prologis (NYSE:PLD) had its price objective increased by research analysts at Robert W. Baird from $123.00 to $124.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s price target would suggest a potential upside of 4.08% from the company’s previous close.

A number of other research analysts have also issued reports on PLD. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $120.00 to $104.00 in a report on Friday, December 6th. BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Barclays raised their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, 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 report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Down 1.3 %

Shares of NYSE PLD opened at $119.14 on Thursday. The company has a 50 day simple moving average of $110.96 and a 200 day simple moving average of $118.44. The firm has a market cap of $110.34 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. Prologis has a 1 year low of $100.82 and a 1 year high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43.

Hedge Funds Weigh In On Prologis

Several large investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. raised its stake in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the period. Dunhill Financial LLC raised its stake in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Hara Capital LLC bought a new stake in shares of Prologis during the 3rd quarter worth $48,000. Coastline Trust Co bought a new stake in shares of Prologis during the 3rd quarter worth $52,000. Finally, Asset Planning Inc purchased a new stake in Prologis in the 4th quarter worth about $53,000. 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.