JPMorgan Chase & Co. Lowers Prologis (NYSE:PLD) Price Target to $128.00

Prologis (NYSE:PLD) had its target price cut by stock analysts at JPMorgan Chase & Co. from $143.00 to $128.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 23.04% from the stock’s previous close.

A number of other research firms also recently commented on PLD. Morgan Stanley increased their target price on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Argus decreased their target price on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets lowered Prologis from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. Mizuho reiterated a “neutral” rating and issued a $130.00 target price on shares of Prologis in a research report on Tuesday, April 2nd. Finally, Raymond James lifted their target price on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.24.

Prologis Trading Up 0.7 %

Shares of PLD opened at $104.03 on Thursday. The company has a market capitalization of $96.23 billion, a P/E ratio of 30.42, a P/E/G ratio of 2.14 and a beta of 1.00. Prologis has a one year low of $96.64 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. The stock has a 50-day moving average price of $125.06 and a 200 day moving average price of $121.86.

Institutional Trading of Prologis

Several hedge funds have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC raised its stake in Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after acquiring an additional 48,850,448 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after acquiring an additional 1,034,211 shares in the last quarter. FMR LLC raised its stake in Prologis by 1.2% during the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after acquiring an additional 197,693 shares in the last quarter. Northern Trust Corp raised its stake in Prologis by 0.7% during the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after acquiring an additional 92,036 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after acquiring an additional 365,904 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Company Profile

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.