Prologis (NYSE:PLD) Price Target Raised to $124.00

Prologis (NYSE:PLD) had its target price boosted by Robert W. Baird from $123.00 to $124.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s price objective suggests a potential upside of 2.09% from the company’s previous close.

PLD has been the subject of a number of other reports. Barclays lifted their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Scotiabank lowered their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Trading Up 1.9 %

Shares of Prologis stock traded up $2.30 during trading on Thursday, reaching $121.47. 686,248 shares of the stock were exchanged, compared to its average volume of 4,478,918. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average is $110.83 and its 200 day moving average is $118.42. The firm has a market cap of $112.50 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. Prologis has a 1 year low of $100.82 and a 1 year high of $135.76.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after purchasing an additional 2,138,693 shares during the last quarter. AMF Tjanstepension AB grew its position in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Prologis by 547.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust’s stock valued at $116,129,000 after acquiring an additional 874,411 shares during the period. Finally, Cardano Risk Management B.V. acquired a new stake in Prologis in the third quarter worth $109,579,000. 93.50% of the stock is currently 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.