BTIG Research Lowers Prologis (NYSE:PLD) Price Target to $134.00

Prologis (NYSE:PLD) had its price objective lowered by BTIG Research from $154.00 to $134.00 in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price target points to a potential upside of 21.88% from the stock’s current price.

A number of other research firms have also commented on PLD. Scotiabank reduced their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. Finally, Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $128.67.

Prologis Price Performance

Shares of PLD stock traded down $0.99 during trading hours on Friday, hitting $109.94. The company had a trading volume of 3,021,620 shares, compared to its average volume of 4,381,089. Prologis has a 12 month low of $100.82 and a 12 month high of $135.76. 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’s fifty day moving average is $110.53 and its 200 day moving average is $118.36. The firm has a market capitalization of $101.82 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.85 and a beta of 1.09.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (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 quarter in the prior year, the company earned $1.30 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts predict that Prologis will post 5.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Prologis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLD. ASB Consultores LLC boosted its holdings in Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 86 shares during the last quarter. CX Institutional boosted its stake in Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after acquiring an additional 88 shares during the last quarter. DT Investment Partners LLC grew its holdings in Prologis by 9.8% during the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 93 shares during the period. Carmel Capital Partners LLC increased its stake in Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares in the last quarter. Finally, Yoder Wealth Management Inc. raised its holdings in Prologis by 4.0% in the third quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock worth $316,000 after purchasing an additional 97 shares during the period. Institutional investors own 93.50% of the company’s stock.

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.