Robert W. Baird Increases Prologis (NYSE:PLD) Price Target to $124.00

Prologis (NYSE:PLD) had its target price hoisted by research analysts at Robert W. Baird from $123.00 to $124.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s price objective points to a potential upside of 2.09% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Mizuho decreased their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday. Finally, UBS Group boosted their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday. One 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 company’s stock. According to data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Up 1.9 %

PLD stock traded up $2.30 during mid-day trading on Thursday, reaching $121.47. 686,248 shares of the stock traded hands, compared to its average volume of 4,478,918. The stock’s fifty day moving average is $110.83 and its 200-day moving average is $118.42. The company has a market cap of $112.50 billion, a P/E ratio of 30.39, a P/E/G ratio of 3.19 and a beta of 1.09. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis has a 52-week low of $100.82 and a 52-week high of $135.76.

Institutional Investors Weigh In On Prologis

A number of institutional investors and hedge funds have recently modified their holdings of PLD. Sunbelt Securities Inc. grew its position in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the period. Dunhill Financial LLC grew its holdings in shares of 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 buying an additional 182 shares in the last quarter. Hara Capital LLC bought a new position in shares of Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co bought a new stake in shares of Prologis in the third quarter worth $52,000. Finally, Asset Planning Inc bought a new position in Prologis in the fourth quarter valued at $53,000. 93.50% of the stock is owned by institutional investors.

About Prologis

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.