Prologis (NYSE:PLD) Given New $158.00 Price Target at Wells Fargo & Company

Prologis (NYSE:PLD) had its price objective lowered by equities research analysts at Wells Fargo & Company from $166.00 to $158.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 22.65% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Royal Bank Of Canada upgraded Prologis from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $148.00 to $160.00 in a report on Tuesday, August 4th. Mizuho increased their price target on shares of Prologis from $150.00 to $159.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Barclays raised their price target on shares of Prologis from $139.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Truist Financial reduced their price objective on Prologis from $162.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Prologis in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $154.05.

Prologis Stock Up 0.7%

NYSE PLD opened at $128.82 on Monday. The stock’s 50 day simple moving average is $132.95 and its 200 day simple moving average is $137.78. Prologis has a one year low of $121.40 and a one year high of $153.35. The firm has a market cap of $122.45 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.81.

Hedge Funds Weigh In On Prologis

Institutional investors and hedge funds have recently modified their holdings of the business. Solstein Capital LLC bought a new position in Prologis in the second quarter valued at approximately $25,000. Manning & Napier Advisors LLC acquired a new stake in shares of Prologis during the second quarter worth $25,000. Clearstead Trust LLC acquired a new stake in shares of Prologis during the second quarter worth $28,000. Johnson Financial Group Inc. acquired a new stake in shares of Prologis during the second quarter worth $29,000. Finally, Kilter Group LLC bought a new stake in Prologis in the 2nd quarter valued at $31,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Company Profile

Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.

The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.

Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.