Prologis (NYSE:PLD) Cut to Sell at StockNews.com

Prologis (NYSE:PLD) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also commented on the company. Robert W. Baird dropped their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Argus reduced their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. The Goldman Sachs Group dropped their target price on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Evercore ISI decreased their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday, April 18th. Finally, Mizuho lowered their price target on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

Prologis Trading Up 0.2 %

PLD stock opened at $109.40 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. Prologis has a 1-year low of $96.64 and a 1-year high of $137.52. The business has a 50 day simple moving average of $107.93 and a two-hundred day simple moving average of $122.15. The company has a market capitalization of $101.29 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 2.43 and a beta of 1.07.

Institutional Investors Weigh In On Prologis

A number of hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC acquired a new stake in shares of Prologis in the 4th quarter worth $27,000. Optimum Investment Advisors purchased a new stake in shares of Prologis during the first quarter valued at $26,000. Thompson Investment Management Inc. purchased a new stake in shares of Prologis during the fourth quarter valued at $28,000. JFS Wealth Advisors LLC increased its position in shares of Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares during the period. Finally, Clear Investment Research LLC raised its stake in Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 shares during the last quarter. 93.50% of the stock is currently 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.