BNP Paribas Upgrades Prologis (NYSE:PLD) to Strong-Buy

Prologis (NYSE:PLD) was upgraded by BNP Paribas to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on PLD. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. Scotiabank lowered their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $124.00 to $123.00 in a report on Monday, January 6th. Truist Financial decreased their price objective on Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, Mizuho decreased their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.67.

Prologis Stock Up 2.8 %

NYSE:PLD opened at $118.38 on Wednesday. The firm has a market capitalization of $109.64 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 3.25 and a beta of 1.09. The stock has a 50 day moving average of $110.31 and a 200-day moving average of $118.33. Prologis has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Hedge Funds Weigh In On Prologis

Several hedge funds have recently bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC increased its position in Prologis by 145.0% during the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after buying an additional 2,138,693 shares during the last quarter. AMF Tjanstepension AB increased its position in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after buying an additional 1,365,811 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Prologis by 547.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust’s stock worth $116,129,000 after buying an additional 874,411 shares during the last quarter. Finally, Cardano Risk Management B.V. acquired a new position in Prologis during the third quarter worth $109,579,000. 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.