UBS Group Forecasts Strong Price Appreciation for Prologis (NYSE:PLD) Stock

Prologis (NYSE:PLD - Get Free Report) had its price objective boosted by investment analysts at UBS Group from $121.00 to $137.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. UBS Group's price target indicates a potential upside of 13.95% from the stock's current price.

Several other research firms have also recently weighed in on PLD. Raymond James reissued an "outperform" rating and set a $125.00 price target (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Scotiabank reduced their price target 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. Royal Bank of Canada raised their price objective on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a report on Monday. Finally, BMO Capital Markets lowered shares of Prologis from a "market perform" rating to an "underperform" rating and reduced their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Prologis has a consensus rating of "Moderate Buy" and a consensus price target of $128.72.

Prologis Stock Performance

Prologis stock traded down $1.02 during mid-day trading on Tuesday, hitting $120.23. 3,494,605 shares of the company's stock traded hands, compared to its average volume of 4,804,889. The firm has a 50 day simple moving average of $110.63 and a two-hundred day simple moving average of $118.41. 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 stock has a market cap of $111.35 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 3.19 and a beta of 1.09. Prologis has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

Institutional Trading of Prologis

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