UBS Group Lowers Prologis (NYSE:PLD) Price Target to $138.00

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

A number of other equities analysts also recently commented on the stock. Morgan Stanley boosted their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Royal Bank of Canada boosted their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Mizuho reiterated a “neutral” rating and set a $130.00 target price on shares of Prologis in a research note on Tuesday, April 2nd. Barclays lowered their target price on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Evercore ISI lowered their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Prologis Stock Down 1.1 %

Prologis stock opened at $103.49 on Thursday. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52. The stock’s fifty day simple moving average is $127.87 and its 200-day simple moving average is $122.02. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $95.73 billion, a P/E ratio of 30.26, a P/E/G ratio of 2.14 and a beta of 1.00.

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

Institutional Investors Weigh In On Prologis

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC raised its holdings 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 valued at $6,364,799,000 after buying an additional 48,850,448 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Prologis by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after purchasing an additional 1,034,211 shares in the last quarter. FMR LLC raised its holdings in Prologis by 1.2% during the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after purchasing an additional 197,693 shares in the last quarter. Morgan Stanley raised 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 purchasing an additional 4,729,040 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Prologis by 3.5% during the fourth quarter. Nuveen Asset Management LLC now owns 13,797,149 shares of the real estate investment trust’s stock worth $1,839,160,000 after purchasing an additional 460,516 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.