The Goldman Sachs Group Trims Prologis (NYSE:PLD) Target Price to $140.00

Prologis (NYSE:PLD) had its price objective decreased by equities research analysts at The Goldman Sachs Group from $163.00 to $140.00 in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 35.37% from the company’s previous close.

Several other analysts have also weighed in on the company. Raymond James increased their price target on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $145.00 to $112.00 in a research report on Monday. Barclays cut their price objective on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. UBS Group cut their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Evercore ISI dropped their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.38.

Prologis Trading Down 0.1 %

NYSE:PLD traded down $0.07 during midday trading on Monday, hitting $103.42. 415,809 shares of the company traded hands, compared to its average volume of 3,401,251. The firm’s fifty day moving average is $127.87 and its 200-day moving average is $122.22. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The firm has a market capitalization of $95.67 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.08 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51.

Institutional Investors Weigh In On Prologis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLD. Optimum Investment Advisors purchased a new stake in Prologis in the first quarter valued at about $26,000. True Wealth Design LLC purchased a new stake in Prologis in the fourth quarter valued at about $27,000. Thompson Investment Management Inc. purchased a new stake in Prologis in the fourth quarter valued at about $28,000. FinTrust Capital Advisors LLC raised its stake in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 168 shares during the last quarter. 93.50% of the stock is currently 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.