Prologis (NYSE:PLD) Stock Rating Lowered by BMO Capital Markets

Prologis (NYSE:PLD - Get Free Report) was downgraded by stock analysts at BMO Capital Markets from a "market perform" rating to an "underperform" rating in a report issued on Friday, MarketBeat Ratings reports. They currently have a $104.00 target price on the real estate investment trust's stock, down from their previous target price of $120.00. BMO Capital Markets' target price suggests a potential downside of 7.14% from the company's current price.

PLD has been the topic of a number of other research reports. Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. Wells Fargo & Company upped their price objective on Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Evercore ISI lifted their target price on Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Finally, Scotiabank cut their price objective on Prologis from $136.00 to $134.00 and set a "sector outperform" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.13.

Prologis Price Performance

NYSE PLD traded down $1.79 on Friday, hitting $112.00. The company had a trading volume of 3,650,844 shares, compared to its average volume of 3,499,513. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The company's fifty day moving average price is $117.84 and its 200-day moving average price is $118.81. The company has a market capitalization of $103.73 billion, a PE ratio of 33.84, a PEG ratio of 3.36 and a beta of 1.07. Prologis has a 12-month low of $101.11 and a 12-month high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. As a group, analysts predict that Prologis will post 5.45 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its holdings in Prologis by 11.5% during the second quarter. CWM LLC now owns 18,998 shares of the real estate investment trust's stock worth $2,134,000 after purchasing an additional 1,952 shares in the last quarter. CX Institutional increased its position in Prologis by 3.3% during the 2nd quarter. CX Institutional now owns 3,259 shares of the real estate investment trust's stock worth $366,000 after purchasing an additional 105 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Prologis during the 2nd quarter worth approximately $108,000. Czech National Bank lifted its holdings in shares of Prologis by 8.5% in the 2nd quarter. Czech National Bank now owns 176,428 shares of the real estate investment trust's stock valued at $19,815,000 after buying an additional 13,852 shares during the period. Finally, InTrack Investment Management Inc boosted its stake in shares of Prologis by 41.0% in the second quarter. InTrack Investment Management Inc now owns 8,501 shares of the real estate investment trust's stock valued at $955,000 after buying an additional 2,473 shares in the last quarter. 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.