Prologis’ (PLD) Sector Underperform Rating Reaffirmed at Scotiabank

Prologis (NYSE:PLD)‘s stock had its “sector underperform” rating restated by investment analysts at Scotiabank in a report released on Monday, MarketBeat.com reports. They currently have a $97.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $133.00. Scotiabank’s price target indicates a potential upside of 8.48% from the stock’s previous close.

A number of other equities analysts also recently commented on PLD. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Truist Financial raised their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Finally, UBS Group raised their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.78.

Prologis Trading Down 5.4 %

Shares of NYSE:PLD opened at $89.41 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $82.88 billion, a PE ratio of 22.35, a P/E/G ratio of 2.70 and a beta of 1.20. Prologis has a 12-month low of $88.32 and a 12-month high of $132.57. The business’s fifty day simple moving average is $115.10 and its 200-day simple moving average is $114.79.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Cohen & Steers Inc. increased its holdings in shares of Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock valued at $2,994,557,000 after purchasing an additional 882,529 shares in the last quarter. Geode Capital Management LLC increased its holdings in Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock valued at $2,252,853,000 after buying an additional 610,251 shares in the last quarter. FMR LLC raised its position in shares of Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after acquiring an additional 1,875,978 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock worth $1,754,282,000 after acquiring an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after acquiring an additional 4,893,284 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Company Profile

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.