Prologis (NYSE:PLD) Stock Rating Lowered by StockNews.com

Prologis (NYSE:PLD) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Several other equities analysts have also weighed in on the stock. Raymond James lifted their target price on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Argus cut their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Barclays cut their price target on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Finally, BMO Capital Markets lowered shares of Prologis from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $145.00 to $112.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $134.24.

Prologis Price Performance

NYSE:PLD opened at $103.35 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The firm has a market cap of $95.60 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00. The company has a 50 day moving average price of $125.65 and a 200-day moving average price of $121.90. Prologis has a 1-year low of $96.64 and a 1-year high of $137.52.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Columbia Trust Co 01012016 raised its holdings in Prologis by 16.0% in the 4th 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 period. Cyndeo Wealth Partners LLC raised its holdings in Prologis by 39.4% in the 4th 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 period. DNB Asset Management AS increased its stake in Prologis by 17.1% during the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares during the period. Grassi Investment Management increased its stake in Prologis by 31.8% during the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after purchasing an additional 60,900 shares during the period. Finally, Desjardins Global Asset Management Inc. increased its stake in Prologis by 255.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after purchasing an additional 11,582 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Prologis

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.