The Goldman Sachs Group Cuts Prologis (NYSE:PLD) Price Target to $140.00

Prologis (NYSE:PLD) had its price objective cut by analysts at The Goldman Sachs Group from $163.00 to $140.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 33.51% from the stock’s previous close.

Several other brokerages have also commented on PLD. Raymond James increased their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Morgan Stanley increased their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Robert W. Baird increased their price objective on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a report on Tuesday, January 23rd. Barclays decreased their price objective on Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Finally, UBS Group reduced their target price on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.41.

Prologis Stock Performance

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

Institutional Investors Weigh In On Prologis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bell Bank acquired a new stake in Prologis during the 1st quarter worth about $330,000. Godsey & Gibb Inc. grew its position in Prologis by 25.5% during the 1st quarter. Godsey & Gibb Inc. now owns 724 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 147 shares during the period. Swisher Financial Concepts Inc. grew its position in Prologis by 8.1% during the 1st quarter. Swisher Financial Concepts Inc. now owns 5,496 shares of the real estate investment trust’s stock worth $662,000 after purchasing an additional 410 shares during the period. Rational Advisors LLC acquired a new stake in shares of Prologis during the 1st quarter valued at about $103,000. Finally, Community Financial Services Group LLC acquired a new stake in shares of Prologis during the 1st quarter valued at about $4,453,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.