Wells Fargo & Company Has Lowered Expectations for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLD) had its price objective decreased by equities researchers at Wells Fargo & Company from $146.00 to $119.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 9.19% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. CJS Securities reduced their price objective on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Robert W. Baird lowered their target price on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Wolfe Research cut shares of Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. Truist Financial decreased their price objective on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, Morgan Stanley decreased their price target on Prologis to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.

Prologis Price Performance

Shares of PLD opened at $108.98 on Monday. The firm has a market cap of $101.13 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Prologis has a 52-week low of $85.35 and a 52-week high of $132.57. The business’s 50 day moving average price is $104.90 and its two-hundred day moving average price is $111.08. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. On average, equities analysts anticipate that Prologis will post 5.73 EPS for the current year.

Hedge Funds Weigh In On Prologis

A number of large investors have recently made changes to their positions in PLD. REAP Financial Group LLC grew its holdings in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Phoenix Financial Ltd. grew its position in Prologis by 1.0% during the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock worth $955,000 after acquiring an additional 86 shares during the last quarter. Principle Wealth Partners LLC raised its holdings in Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after buying an additional 92 shares during the last quarter. Black Diamond Financial LLC raised its stake in shares of Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after acquiring an additional 93 shares during the last quarter. Finally, Berkshire Bank lifted its holdings in Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after buying an additional 95 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Company Profile

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.