Prologis (NYSE:PLD) Price Target Cut to $133.00 by Analysts at Scotiabank

Prologis (NYSE:PLD - Get Free Report) had its price objective cut by Scotiabank from $134.00 to $133.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "sector outperform" rating on the real estate investment trust's stock. Scotiabank's price target points to a potential upside of 9.66% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird raised shares of Prologis from a "neutral" rating to an "outperform" rating and decreased their price target for the stock from $124.00 to $123.00 in a report on Monday, January 6th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $128.78.

Prologis Price Performance

NYSE:PLD traded up $2.36 during mid-day trading on Monday, hitting $121.29. 5,253,379 shares of the stock traded hands, compared to its average volume of 4,886,773. The business's 50-day moving average price is $110.49 and its 200 day moving average price is $118.41. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The company has a market cap of $112.33 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. Prologis has a 12-month low of $100.82 and a 12-month high of $135.76.

Hedge Funds Weigh In On Prologis

A number of large investors have recently bought and sold shares of the stock. Empirical Asset Management LLC boosted its holdings in shares of Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock worth $7,249,000 after purchasing an additional 52,963 shares during the period. Sunflower Bank N.A. bought a new position in Prologis during the 3rd quarter valued at approximately $249,000. Cardano Risk Management B.V. lifted its holdings in Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock worth $94,391,000 after buying an additional 25,266 shares during the period. Coronation Fund Managers Ltd. bought a new stake in shares of Prologis in the 2nd quarter worth approximately $878,000. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust's stock worth $149,116,000 after buying an additional 29,400 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other 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.