Prologis (NYSE:PLD) Given New $138.00 Price Target at UBS Group

Prologis (NYSE:PLD) had its target price dropped by research analysts at UBS Group from $151.00 to $138.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s price target would suggest a potential upside of 33.35% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Barclays reduced their price objective on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday. Robert W. Baird lifted their price objective on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 23rd. Raymond James lifted their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. Finally, Mizuho reissued a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Prologis Stock Down 1.1 %

Shares of NYSE:PLD opened at $103.49 on Thursday. Prologis has a one year low of $96.64 and a one year high of $137.52. The company has a 50 day moving average of $127.87 and a 200-day moving average of $122.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The stock has a market cap of $95.73 billion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 2.14 and a beta of 1.00.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a return on equity of 5.49% and a net margin of 38.73%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Prologis will post 5.47 earnings per share for the current year.

Institutional Trading of Prologis

A number of institutional investors have recently made changes to their positions in PLD. Valeo Financial Advisors LLC lifted its position in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Norges Bank acquired a new position in Prologis during the fourth quarter worth $980,759,000. Capital World Investors increased its holdings in Prologis by 1,252.9% during the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after buying an additional 6,765,582 shares during the last quarter. Morgan Stanley increased its holdings in Prologis by 48.0% during the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after buying an additional 4,729,040 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC acquired a new position in Prologis during the fourth quarter worth $232,205,000. 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 December 31, 2023, 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.