Prologis (NYSE:PLD) Rating Lowered to Sell at StockNews.com

Prologis (NYSE:PLDGet Rating) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Several other research firms also recently commented on PLD. Scotiabank raised Prologis from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the company from $137.00 to $116.00 in a research report on Monday, October 17th. JPMorgan Chase & Co. downgraded Prologis from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $124.00 to $130.00 in a research report on Friday, December 16th. Truist Financial reduced their price target on Prologis from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, October 4th. BTIG Research reduced their price target on Prologis from $193.00 to $152.00 and set a “buy” rating on the stock in a research report on Monday, October 17th. Finally, Royal Bank of Canada reduced their price target on Prologis from $172.00 to $154.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Prologis Stock Performance

PLD opened at $122.82 on Friday. The business’s 50-day simple moving average is $115.99 and its 200 day simple moving average is $117.52. The firm has a market capitalization of $113.37 billion, a PE ratio of 22.79, a PEG ratio of 2.53 and a beta of 0.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.48 and a current ratio of 0.48. Prologis has a 52-week low of $98.03 and a 52-week high of $174.54.

Prologis (NYSE:PLDGet Rating) last announced its quarterly earnings results on Wednesday, January 18th. The real estate investment trust reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. Prologis had a return on equity of 10.43% and a net margin of 73.21%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. The business’s revenue was up 37.2% compared to the same quarter last year. As a group, sell-side analysts expect that Prologis will post 5.13 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David P. Oconnor purchased 9,000 shares of the company’s stock in a transaction dated Monday, November 28th. The stock was bought at an average cost of $114.13 per share, for a total transaction of $1,027,170.00. Following the purchase, the director now owns 9,000 shares of the company’s stock, valued at $1,027,170. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Institutional Trading of Prologis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Prologis by 9.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 47,860 shares of the real estate investment trust’s stock valued at $5,631,000 after purchasing an additional 4,062 shares during the period. Wolverine Asset Management LLC acquired a new stake in Prologis in the second quarter valued at $564,000. Royal London Asset Management Ltd. increased its holdings in Prologis by 1.8% in the second quarter. Royal London Asset Management Ltd. now owns 328,770 shares of the real estate investment trust’s stock valued at $38,686,000 after purchasing an additional 5,714 shares during the period. Core Alternative Capital increased its holdings in Prologis by 46.6% in the third quarter. Core Alternative Capital now owns 727 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 231 shares during the period. Finally, Stephens Inc. AR increased its holdings in Prologis by 5.0% in the third quarter. Stephens Inc. AR now owns 37,022 shares of the real estate investment trust’s stock valued at $3,761,000 after purchasing an additional 1,777 shares during the period. 75.84% of the stock is currently owned by institutional investors and hedge funds.

About Prologis

(Get Rating)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

Featured Stories

Analyst Recommendations for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.