Prologis (NYSE:PLD) Given New $137.00 Price Target at UBS Group

Prologis (NYSE:PLDGet Free Report) had its price target raised by UBS Group from $121.00 to $137.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s price target suggests a potential upside of 14.79% from the company’s current price.

Several other analysts have also recently commented on the company. Raymond James restated an “outperform” rating and issued a $125.00 target price (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Royal Bank of Canada raised their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday. Mizuho cut their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Truist Financial increased their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $128.72.

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Prologis Trading Down 0.7 %

Shares of NYSE PLD opened at $119.35 on Tuesday. The company has a market cap of $110.53 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. The stock’s 50 day simple moving average is $110.73 and its 200 day simple moving average is $118.41. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. 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 PLD. State Street Corp lifted its position in Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after buying an additional 767,609 shares in the last quarter. Geode Capital Management LLC raised its holdings in Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after acquiring an additional 441,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Prologis by 534.7% during the third 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. Finally, Swedbank AB grew its stake in Prologis by 1.8% in the fourth quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock valued at $486,514,000 after purchasing an additional 80,575 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Prologis

(Get Free Report)

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.

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