Wolfe Research Has Lowered Expectations for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLD) had its price target reduced by investment analysts at Wolfe Research from $135.00 to $128.00 in a research note issued on Friday. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Wolfe Research’s price target suggests a potential upside of 16.43% from the company’s current price.

A number of other brokerages have also recently commented on PLD. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Barclays lifted their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $120.00 to $104.00 in a research report on Friday, December 6th. BTIG Research cut their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday. Finally, Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Trading Down 0.9 %

Shares of Prologis stock traded down $0.99 during trading on Friday, reaching $109.94. The company’s stock had a trading volume of 3,021,620 shares, compared to its average volume of 4,381,089. The company has a market cap of $101.82 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.85 and a beta of 1.09. The firm’s 50-day moving average is $110.53 and its two-hundred day moving average is $118.36. Prologis has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the business posted $1.30 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Prologis will post 5.45 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after purchasing an additional 767,609 shares in the last quarter. Geode Capital Management LLC lifted its stake in Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after acquiring an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after acquiring an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after acquiring an additional 8,545,336 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Prologis by 12.7% during the second quarter. Canada Pension Plan Investment Board now owns 4,237,322 shares of the real estate investment trust’s stock valued at $475,894,000 after purchasing an additional 477,785 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.