Barclays Lowers Prologis (NYSE:PLD) Price Target to $123.00

Prologis (NYSE:PLD) had its price objective lowered by Barclays from $135.00 to $123.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price points to a potential upside of 20.53% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. BMO Capital Markets lowered Prologis from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Royal Bank of Canada boosted their price objective on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Raymond James boosted their price objective on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $133.53.

Prologis Stock Performance

Shares of PLD stock opened at $102.05 on Monday. The company’s 50-day moving average is $123.87 and its 200 day moving average is $121.92. Prologis has a one year low of $96.64 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $94.48 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00.

Institutional Investors Weigh In On Prologis

Institutional investors have recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Prologis during the fourth quarter valued at $27,000. Optimum Investment Advisors purchased a new position in shares of Prologis in the 1st quarter valued at about $26,000. Thompson Investment Management Inc. acquired a new position in shares of Prologis during the 4th quarter worth approximately $28,000. JFS Wealth Advisors LLC raised its position in Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 168 shares during the period. Finally, Clear Investment Research LLC raised its position in shares of Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 158 shares during the last quarter. 93.50% of the stock is currently 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.