Prologis (NYSE:PLD) Price Target Lowered to $128.00 at JPMorgan Chase & Co.

Prologis (NYSE:PLD) had its price target cut by JPMorgan Chase & Co. from $143.00 to $128.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 23.30% from the stock’s previous close.

PLD has been the topic of a number of other reports. BMO Capital Markets lowered shares of Prologis from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $145.00 to $112.00 in a research report on Monday. Argus dropped their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday. Barclays lowered their price objective on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. Finally, UBS Group lowered their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average price target of $134.24.

Prologis Stock Up 0.6 %

Shares of Prologis stock traded up $0.63 during trading hours on Thursday, reaching $103.81. The company’s stock had a trading volume of 2,083,836 shares, compared to its average volume of 3,453,236. Prologis has a one year low of $96.64 and a one year high of $137.52. The company has a market capitalization of $96.03 billion, a P/E ratio of 30.35, a P/E/G ratio of 2.17 and a beta of 1.00. The stock’s fifty day simple moving average is $126.24 and its two-hundred day simple moving average is $122.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08.

Hedge Funds Weigh In On Prologis

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Valeo Financial Advisors LLC lifted its holdings in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after purchasing an additional 1,034,211 shares during the period. FMR LLC increased its position in Prologis by 1.2% during the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after purchasing an additional 197,693 shares during the period. Northern Trust Corp increased its position in Prologis by 0.7% during the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after purchasing an additional 92,036 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after purchasing an additional 365,904 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.