Prologis Inc. (NYSE:PLD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

According to Zacks, “Amid a consistent shift toward e-commerce and supply chain strategy transformations, Prologis is well poised to benefit from its capacity to offer modern distribution facilities in strategic infill locations. In fact, the company’s occupancy and leasing volumes remained high in third-quarter 2016. It witnessed broad-based demand across customer segments, driven by e-commerce, automotive, consumer products and construction supplies. Also, Prologis remains consistently focused on bolstering its liquidity, which is encouraging. Nevertheless, rising number of new facilities, competitive landscape and any further hike in interest rates are the company’s chief concerns.”

PLD has been the topic of several other research reports. Capital One Financial Corp. raised shares of Prologis from an “underweight” rating to an “equal weight” rating and set a $53.00 price objective on the stock in a research note on Monday, October 17th. Robert W. Baird cut shares of Prologis from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $52.00 to $54.00 in a research note on Wednesday, August 17th. BTIG Research began coverage on shares of Prologis in a research note on Thursday, August 25th. They issued a “buy” rating and a $60.00 price objective on the stock. Evercore ISI raised shares of Prologis from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Tuesday, October 18th. Finally, Morgan Stanley set a $58.00 price objective on shares of Prologis and gave the stock a “buy” rating in a research note on Tuesday, September 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $51.21.

Analyst Recommendations for Prologis (NYSE:PLD)

Shares of Prologis (NYSE:PLD) traded up 1.12% during trading on Friday, reaching $48.56. 1,973,306 shares of the company traded hands. The firm has a market capitalization of $25.67 billion, a PE ratio of 29.01 and a beta of 1.15. Prologis has a 12 month low of $35.25 and a 12 month high of $54.87. The firm has a 50-day moving average price of $50.59 and a 200-day moving average price of $50.77.

Prologis (NYSE:PLD) last released its earnings results on Thursday, October 20th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The firm had revenue of $705 million for the quarter, compared to analysts’ expectations of $221.07 million. Prologis had a net margin of 34.73% and a return on equity of 4.86%. Prologis’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the company earned $0.58 EPS. Equities research analysts anticipate that Prologis will post ($0.27) EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its position in Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares in the last quarter. BKD Wealth Advisors LLC raised its position in Prologis by 1.1% in the second quarter. BKD Wealth Advisors LLC now owns 6,354 shares of the company’s stock worth $312,000 after buying an additional 68 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Prologis by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 448,796 shares of the company’s stock worth $22,009,000 after buying an additional 6,003 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its position in Prologis by 6.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 135,991 shares of the company’s stock worth $6,669,000 after buying an additional 8,221 shares in the last quarter. Finally, DNB Asset Management AS raised its position in Prologis by 1.5% in the second quarter. DNB Asset Management AS now owns 53,598 shares of the company’s stock worth $2,029,000 after buying an additional 800 shares in the last quarter. 99.18% of the stock is currently owned by institutional investors.

Prologis Company Profile

Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.

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