Scotiabank Has Lowered Expectations for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLD) had its price target cut by equities researchers at Scotiabank from $134.00 to $133.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 9.90% from the company’s current price.

A number of other research analysts also recently issued reports on PLD. JPMorgan Chase & Co. reduced their price target 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. Truist Financial reduced their price objective on Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $128.72.

Prologis Trading Up 1.8 %

NYSE:PLD traded up $2.09 during mid-day trading on Monday, reaching $121.02. The company’s stock had a trading volume of 1,711,668 shares, compared to its average volume of 4,635,353. The company’s fifty day simple moving average is $110.49 and its two-hundred day simple moving average is $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 $112.08 billion, a P/E ratio of 30.29, a P/E/G ratio of 3.19 and a beta of 1.09. Prologis has a twelve month low of $100.82 and a twelve month high of $135.76.

Hedge Funds Weigh In On Prologis

Large investors have recently modified their holdings of the business. Dunhill Financial LLC raised its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Sunbelt Securities Inc. increased its position in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the last quarter. Hara Capital LLC acquired a new position in shares of Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co bought a new stake in Prologis in the 3rd quarter valued at $52,000. Finally, Fortitude Family Office LLC lifted its holdings in Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.