Prologis (NYSE:PLD) Price Target Raised to $137.00

Prologis (NYSE:PLD) had its target price raised by analysts at UBS Group from $121.00 to $137.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s target price would suggest a potential upside of 13.06% from the company’s current price.

A number of other equities analysts have also recently weighed in on PLD. JPMorgan Chase & Co. cut their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Wolfe Research cut their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Scotiabank reduced their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday. Finally, Raymond James reaffirmed an “outperform” rating and issued a $125.00 target price (down from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.72.

Prologis Stock Down 0.1 %

PLD opened at $121.18 on Tuesday. Prologis has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The business has a 50 day simple moving average of $110.49 and a 200-day simple moving average of $118.41. The stock has a market capitalization of $112.23 billion, a P/E ratio of 30.29, a P/E/G ratio of 3.19 and a beta of 1.09.

Institutional Investors Weigh In On Prologis

Several hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Prologis by 534.7% in 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 worth $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC grew its stake in Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. AMF Tjanstepension AB increased its holdings in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Prologis by 547.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust’s stock worth $116,129,000 after buying an additional 874,411 shares during the last quarter. Finally, Cardano Risk Management B.V. bought a new position in Prologis during the 3rd quarter worth approximately $109,579,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.