BTIG Research Has Lowered Expectations for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLD) had its price objective cut by analysts at BTIG Research from $154.00 to $134.00 in a report released on Friday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective suggests a potential upside of 22.36% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Scotiabank dropped their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Mizuho decreased their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial decreased their target price on Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Price Performance

NYSE PLD opened at $109.51 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s 50-day moving average is $110.34 and its two-hundred day moving average is $118.29. The firm has a market cap of $101.43 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. Prologis has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 earnings per share. On average, analysts anticipate that Prologis will post 5.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Apeiron RIA LLC acquired a new position in shares of Prologis in the 4th quarter worth approximately $216,000. Verde Capital Management raised its position in Prologis by 3.2% in the 4th quarter. Verde Capital Management now owns 16,325 shares of the real estate investment trust’s stock worth $1,726,000 after purchasing an additional 510 shares during the last quarter. Red Door Wealth Management LLC raised its position in Prologis by 6.4% in the 4th quarter. Red Door Wealth Management LLC now owns 37,830 shares of the real estate investment trust’s stock worth $3,999,000 after purchasing an additional 2,261 shares during the last quarter. Teamwork Financial Advisors LLC bought a new position in Prologis in the 4th quarter worth approximately $1,140,000. Finally, Raleigh Capital Management Inc. raised its position in Prologis by 16.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 15,116 shares of the real estate investment trust’s stock worth $1,598,000 after purchasing an additional 2,120 shares during the last quarter. 93.50% of the stock is 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.