Prologis (NYSE:PLD) Rating Lowered to Market Perform at BMO Capital Markets

Prologis (NYSE:PLD) was downgraded by research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Monday, MarketBeat.com reports. They currently have a $112.00 price target on the real estate investment trust’s stock, down from their prior price target of $145.00. BMO Capital Markets’ target price indicates a potential upside of 6.81% from the stock’s previous close.

PLD has been the subject of a number of other reports. UBS Group reduced their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Evercore ISI decreased their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. Raymond James boosted their target price on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, Mizuho reiterated a “neutral” rating and set a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $135.41.

Prologis Trading Up 0.7 %

Shares of NYSE PLD opened at $104.86 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a market cap of $97.00 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 2.08 and a beta of 1.00. The business has a fifty day simple moving average of $126.79 and a 200-day simple moving average of $122.16.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC grew its holdings in 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 purchasing an additional 48,850,448 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after buying an additional 1,034,211 shares during the period. FMR LLC grew its stake in Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after buying an additional 197,693 shares during the last quarter. Northern Trust Corp raised its holdings in Prologis by 0.7% in the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after acquiring an additional 92,036 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after acquiring an additional 365,904 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.