Barclays Trims Prologis (NYSE:PLD) Target Price to $123.00

Prologis (NYSE:PLD) had its target price lowered by equities research analysts at Barclays from $135.00 to $123.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target suggests a potential upside of 17.30% from the stock’s current price.

A number of other analysts have also issued reports on PLD. StockNews.com lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group cut their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. BMO Capital Markets lowered shares of 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, April 22nd. Finally, Morgan Stanley raised their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.53.

Prologis Stock Up 0.8 %

Shares of NYSE PLD traded up $0.80 during mid-day trading on Monday, reaching $104.86. The company had a trading volume of 897,000 shares, compared to its average volume of 3,450,967. The stock has a fifty day moving average of $125.06 and a two-hundred day moving average of $122.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $97.08 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 2.17 and a beta of 1.00. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Columbia Trust Co 01012016 raised its holdings in shares of Prologis by 16.0% in the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 723 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after buying an additional 11,882 shares during the last quarter. DNB Asset Management AS raised its holdings in shares of Prologis by 17.1% in the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after buying an additional 42,073 shares during the last quarter. Grassi Investment Management raised its holdings in shares of Prologis by 31.8% in the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after buying an additional 60,900 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. raised its holdings in shares of Prologis by 255.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after buying an additional 11,582 shares during the last quarter. 93.50% of the stock is owned by 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.