Prologis (NYSE:PLD) Given "Sector Underperform" Rating at Scotiabank

Prologis (NYSE:PLD - Get Free Report)'s stock had its "sector underperform" rating restated by equities researchers at Scotiabank in a research report issued to clients and investors on Monday, MarketBeat reports. They presently have a $97.00 price target on the real estate investment trust's stock, down from their prior price target of $133.00. Scotiabank's price target points to a potential upside of 0.89% from the company's current price.

Several other brokerages have also issued reports on PLD. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. BNP Paribas raised Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Robert W. Baird upped their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.78.

Prologis Trading Up 1.3 %

Shares of NYSE:PLD traded up $1.25 during trading on Monday, reaching $96.14. The stock had a trading volume of 6,480,061 shares, compared to its average volume of 4,144,205. The stock has a market cap of $89.12 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis has a 52 week low of $85.35 and a 52 week high of $132.57. The firm's fifty day moving average is $113.34 and its 200 day moving average is $114.06.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by corporate insiders.

Institutional Trading of Prologis

Several institutional investors and hedge funds have recently modified their holdings of the business. Murphy & Mullick Capital Management Corp purchased a new position in shares of Prologis in the 4th quarter worth about $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the 4th quarter valued at $30,000. REAP Financial Group LLC boosted its position in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares during the period. Finally, Dunhill Financial LLC grew its position in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

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.