Prologis (NYSE:PLD) Downgraded by StockNews.com

Posted by on Apr 9th, 2023

Prologis (NYSE:PLD – Get Rating) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

Several other equities analysts also recently commented on PLD. JPMorgan Chase & Co. downgraded shares of Prologis from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $124.00 to $130.00 in a research note on Friday, December 16th. Truist Financial boosted their target price on Prologis from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, January 26th. Mizuho initiated coverage on Prologis in a research report on Monday, March 20th. They issued a “buy” rating and a $140.00 price target on the stock. Wells Fargo & Company boosted their price objective on Prologis to $141.00 in a research report on Wednesday, December 14th. Finally, Citigroup raised their target price on shares of Prologis to $140.00 in a report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.85.

Prologis Stock Up 0.4 %

Shares of PLD opened at $122.75 on Friday. The company’s 50-day moving average price is $123.61 and its 200 day moving average price is $116.38. Prologis has a 12-month low of $98.03 and a 12-month high of $174.54. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.41. The firm has a market cap of $113.35 billion, a P/E ratio of 28.22, a price-to-earnings-growth ratio of 3.13 and a beta of 0.99.

Prologis (NYSE:PLD – Get Rating) last released its quarterly earnings results on Wednesday, January 18th. The real estate investment trust reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Prologis had a return on equity of 7.71% and a net margin of 56.33%. The firm’s revenue was up 37.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 earnings per share. On average, sell-side analysts forecast that Prologis will post 5.51 earnings per share for the current year.

Institutional Trading of Prologis

A number of large investors have recently bought and sold shares of the business. Lockerman Financial Group Inc. grew its stake in shares of Prologis by 1.9% during the 4th quarter. Lockerman Financial Group Inc. now owns 4,095 shares of the real estate investment trust’s stock worth $462,000 after purchasing an additional 78 shares during the period. Highland Capital Management LLC increased its holdings in Prologis by 0.5% in the fourth quarter. Highland Capital Management LLC now owns 17,490 shares of the real estate investment trust’s stock valued at $1,972,000 after buying an additional 80 shares in the last quarter. Arjuna Capital lifted its position in shares of Prologis by 3.2% during the 4th quarter. Arjuna Capital now owns 2,711 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 85 shares during the period. SevenOneSeven Capital Management lifted its position in shares of Prologis by 2.3% during the 4th quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 86 shares during the period. Finally, MV Capital Management Inc. boosted its stake in shares of Prologis by 25.3% during the 4th quarter. MV Capital Management Inc. now owns 451 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

About Prologis

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Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.

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