Prologis (NYSE:PLD) Downgraded by BMO Capital Markets to Underperform

Prologis (NYSE:PLD) was downgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. They currently have a $104.00 price target on the real estate investment trust’s stock, down from their prior price target of $120.00. BMO Capital Markets’ target price would suggest a potential downside of 8.60% from the company’s previous close.

Several other analysts have also recently weighed in on PLD. Bank of America reiterated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Evercore ISI boosted their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Wells Fargo & Company upped their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Finally, Truist Financial lowered their target price on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.13.

Prologis Stock Down 1.1 %

Shares of NYSE:PLD opened at $113.78 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a fifty day moving average of $117.84 and a 200 day moving average of $118.81. Prologis has a 52-week low of $101.11 and a 52-week high of $137.52. The firm has a market capitalization of $105.38 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 3.40 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. As a group, research analysts anticipate that Prologis will post 5.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Prologis

Institutional investors have recently modified their holdings of the business. American Capital Advisory LLC purchased a new stake in Prologis during the 2nd quarter valued at $26,000. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis in the second quarter worth $27,000. Sunbelt Securities Inc. increased its position in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Prologis in the second quarter valued at about $31,000. Finally, Dunhill Financial LLC lifted its holdings in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the period. 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.