JPMorgan Chase & Co. Lowers Prologis (NYSE:PLD) Price Target to $131.00

Prologis (NYSE:PLD) had its target price cut by JPMorgan Chase & Co. from $138.00 to $131.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 10.03% from the company’s current price.

PLD has been the topic of several other research reports. Wells Fargo & Company lifted their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Truist Financial boosted their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Finally, Bank of America reissued a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

Prologis Stock Down 2.8 %

Shares of PLD traded down $3.44 during trading hours on Monday, reaching $119.06. 586,453 shares of the stock traded hands, compared to its average volume of 3,627,885. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $125.43 and a 200 day simple moving average of $117.60. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a market cap of $110.23 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Prologis will post 5.42 EPS for the current year.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Prologis

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after acquiring an additional 48,850,448 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Prologis by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after acquiring an additional 317,815 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after acquiring an additional 167,131 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its position in shares of Prologis by 5.7% during the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after acquiring an additional 367,565 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

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.