UBS Group Forecasts Strong Price Appreciation for Prologis (NYSE:PLD) Stock

Prologis (NYSE:PLD) had its price target raised by investment analysts at UBS Group from $121.00 to $137.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s price objective would suggest a potential upside of 14.79% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday. BTIG Research dropped their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Truist Financial boosted their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.72.

Prologis Price Performance

NYSE PLD opened at $119.35 on Tuesday. The company has a market cap of $110.53 billion, a PE ratio of 29.84, a P/E/G ratio of 3.19 and a beta of 1.09. The firm’s 50 day moving average price is $110.73 and its 200-day moving average price is $118.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. Prologis has a 52-week low of $100.82 and a 52-week high of $135.76.

Institutional Investors Weigh In On Prologis

Large investors have recently made changes to their positions in the business. State Street Corp boosted its position in shares of Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after buying an additional 767,609 shares during the period. Geode Capital Management LLC lifted its position in shares of Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after purchasing an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after acquiring an additional 441,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 valued at $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Finally, Swedbank AB increased its position in shares of Prologis by 1.8% during the fourth quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after acquiring an additional 80,575 shares during the last quarter. 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.