Prologis (NYSE:PLD) Upgraded by Robert W. Baird to “Outperform” Rating

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

Several other equities research analysts have also issued reports on the stock. Truist Financial lowered their target price on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Raymond James reissued 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. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.25.

Prologis Price Performance

NYSE:PLD opened at $105.63 on Monday. The firm’s fifty day moving average is $111.89 and its two-hundred day moving average is $118.66. The firm has a market cap of $97.83 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 3.27 and a beta of 1.09. 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 has a one year low of $100.82 and a one year high of $135.76.

Prologis (NYSE:PLD) last posted 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 return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the business earned $1.30 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Research analysts expect that Prologis will post 5.45 EPS for the current year.

Hedge Funds Weigh In On Prologis

A number of institutional investors have recently bought and sold shares of PLD. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis during the 2nd quarter valued at approximately $27,000. Dunhill Financial LLC lifted its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the last quarter. Sunbelt Securities Inc. grew its holdings 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. Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis during the 2nd quarter worth about $31,000. Finally, Hara Capital LLC acquired a new stake in shares of Prologis during the third quarter valued at about $48,000. 93.50% of the stock is owned by hedge funds and other 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.