Prologis (NYSE:PLD) PT Lowered to $124.00 at Royal Bank of Canada

Prologis (NYSE:PLD) had its price objective reduced by analysts at Royal Bank of Canada from $145.00 to $124.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 15.03% from the stock’s current price.

PLD has been the topic of a number of other research reports. Raymond James raised their target price on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Morgan Stanley boosted their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Barclays lowered their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Evercore ISI reduced their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday, April 18th. Finally, Argus dropped their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Stock Up 3.0 %

Shares of NYSE:PLD opened at $107.80 on Monday. The company’s fifty day moving average is $121.06 and its two-hundred day moving average is $121.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. Prologis has a 1-year low of $96.64 and a 1-year high of $137.52. The stock has a market capitalization of $99.81 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PLD. True Wealth Design LLC acquired a new position in shares of Prologis in the 4th quarter worth approximately $27,000. Optimum Investment Advisors bought a new stake in Prologis during the first quarter worth approximately $26,000. Thompson Investment Management Inc. acquired a new position in Prologis in the fourth quarter worth approximately $28,000. JFS Wealth Advisors LLC increased its holdings in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 168 shares in the last quarter. Finally, Clear Investment Research LLC lifted its position in shares of Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares during the last quarter. 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.