Prologis (NYSE:PLD) Stock Rating Upgraded by Baird R W

Prologis (NYSE:PLD) was upgraded by Baird R W from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on PLD. Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Truist Financial decreased their price objective on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. JPMorgan Chase & Co. cut their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Raymond James restated an “outperform” rating and issued a $125.00 price objective (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Finally, Evercore ISI increased their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $129.25.

Prologis Stock Performance

Shares of PLD opened at $106.65 on Monday. Prologis has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market cap of $98.78 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The stock has a 50-day moving average price of $111.66 and a 200-day moving average price of $118.64.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 earnings per share. As a group, equities analysts forecast that Prologis will post 5.45 earnings per share for the current fiscal year.

Institutional Trading of Prologis

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sunflower Bank N.A. purchased a new position in shares of Prologis in the 3rd quarter valued at approximately $249,000. Coronation Fund Managers Ltd. purchased a new position in Prologis during the second quarter valued at $878,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Prologis by 2.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after buying an additional 29,400 shares in the last quarter. Cardano Risk Management B.V. purchased a new stake in shares of Prologis in the 3rd quarter worth about $109,579,000. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Prologis in the 3rd quarter worth about $1,051,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

About Prologis

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.