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

Prologis (NYSE:PLDGet Free Report) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Monday, Marketbeat reports. They currently have a $112.00 target price on the real estate investment trust’s stock, down from their previous target price of $145.00. BMO Capital Markets’ price target would suggest a potential upside of 8.22% from the company’s current price.

PLD has been the topic of several other research reports. Raymond James lifted their target price on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Evercore ISI cut their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday. Morgan Stanley lifted their target price on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Barclays cut their target price on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Finally, UBS Group cut their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $136.13.

Check Out Our Latest Stock Analysis on PLD

Prologis Trading Down 1.1 %

Shares of NYSE PLD opened at $103.49 on Monday. The company has a market cap of $95.73 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. 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 stock’s 50 day simple moving average is $127.87 and its 200 day simple moving average is $122.22.

Hedge Funds Weigh In On Prologis

A number of hedge funds have recently modified their holdings of the stock. BOKF NA increased its position in Prologis by 3.8% in the 4th quarter. BOKF NA now owns 2,125 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 77 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in Prologis by 1.5% during the 2nd quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust’s stock valued at $680,000 after purchasing an additional 82 shares during the period. SevenOneSeven Capital Management boosted its stake in Prologis by 2.3% during the 4th quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust’s stock valued at $427,000 after purchasing an additional 86 shares during the period. Family Legacy Inc. boosted its stake in Prologis by 0.5% during the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock valued at $2,217,000 after purchasing an additional 87 shares during the period. Finally, Lockerman Financial Group Inc. boosted its stake in Prologis by 2.0% during the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after purchasing an additional 87 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About Prologis

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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.

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Analyst Recommendations for Prologis (NYSE:PLD)

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