Prologis (NYSE:PLD) Given New $133.00 Price Target at Scotiabank

Prologis (NYSE:PLD) had its target price decreased by research analysts at Scotiabank from $134.00 to $133.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would indicate a potential upside of 9.90% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on PLD. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Truist Financial lowered their target price on shares of Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a report on Friday, January 17th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.72.

Prologis Trading Up 1.8 %

Shares of NYSE:PLD traded up $2.09 on Monday, hitting $121.02. The company had a trading volume of 1,711,668 shares, compared to its average volume of 4,635,353. The firm’s 50-day simple moving average is $110.49 and its two-hundred day simple moving average is $118.41. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $112.08 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 3.19 and a beta of 1.09. Prologis has a 1 year low of $100.82 and a 1 year high of $135.76.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Sunbelt Securities Inc. increased its position in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares in the last quarter. Dunhill Financial LLC boosted its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of Prologis in the third quarter valued at approximately $48,000. Coastline Trust Co acquired a new position in shares of Prologis during the 3rd quarter worth approximately $52,000. Finally, Fortitude Family Office LLC grew its stake in Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 240 shares during the period. Hedge funds and other institutional investors 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.