Prologis (NYSE:PLD) Raised to Strong-Buy at Baird R W

Prologis (NYSE:PLD) was upgraded by analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on PLD. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $124.00 to $123.00 in a report on Monday. Truist Financial lowered their price target on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.25.

Prologis Stock Down 0.0 %

Shares of PLD opened at $106.62 on Monday. The stock has a 50 day moving average price of $111.49 and a 200 day moving average price of $118.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $98.75 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 3.27 and a beta of 1.09. Prologis has a one year low of $100.82 and a one year high of $135.76.

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

Hedge Funds Weigh In On Prologis

A number of hedge funds have recently made changes to their positions in PLD. ASB Consultores LLC increased its holdings in Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares in the last quarter. CX Institutional raised its position in shares of Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA lifted its position in shares of Prologis by 5.1% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 90 shares during the last quarter. DT Investment Partners LLC lifted its holdings in Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after acquiring an additional 93 shares during the last quarter. Finally, Carmel Capital Partners LLC boosted its position in Prologis by 2.6% during the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.