Prologis (NYSE:PLD) Lifted to “Hold” at StockNews.com

Prologis (NYSE:PLD) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other equities analysts have also issued reports on the company. UBS Group reduced their target price on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Robert W. Baird reduced their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. reduced their target price on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, Raymond James upped their target price on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.35.

Prologis Stock Down 1.2 %

PLD traded down $1.38 during midday trading on Wednesday, reaching $109.22. 3,141,875 shares of the company were exchanged, compared to its average volume of 3,556,720. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The company’s fifty day moving average price is $115.68 and its 200 day moving average price is $122.38. The company has a market cap of $101.12 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 2.33 and a beta of 1.05. Prologis has a one year low of $96.64 and a one year high of $137.52.

Institutional Investors Weigh In On Prologis

Several institutional investors have recently made changes to their positions in the stock. Family Legacy Inc. raised its position in shares of Prologis by 0.5% in the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after buying an additional 87 shares in the last quarter. Lockerman Financial Group Inc. raised its position in shares of Prologis by 2.0% in the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after buying an additional 87 shares in the last quarter. Hixon Zuercher LLC raised its position in shares of Prologis by 0.6% in the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after buying an additional 88 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Prologis by 11.0% in the fourth quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 90 shares in the last quarter. Finally, CVA Family Office LLC raised its position in shares of Prologis by 21.4% in the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 94 shares in the last quarter. Hedge funds and other 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.