BNP Paribas Upgrades Prologis (NYSE:PLD) to “Strong-Buy”

Prologis (NYSE:PLD) was upgraded by analysts at BNP Paribas to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts have also issued reports on PLD. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $124.00 to $123.00 in a research note on Monday, January 6th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Raymond James restated an “outperform” rating and issued a $125.00 price target (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Finally, Barclays upped their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Trading Up 2.8 %

Shares of PLD opened at $118.38 on Wednesday. The stock’s fifty day simple moving average is $110.31 and its 200-day simple moving average is $118.33. The firm has a market capitalization of $109.64 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 3.25 and a beta of 1.09. Prologis has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Institutional Investors Weigh In On Prologis

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp raised its position in shares of Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after buying an additional 767,609 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Prologis by 4.5% during the 3rd 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 buying an additional 441,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Prologis by 534.7% in 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 acquiring an additional 8,545,336 shares during the last quarter. Finally, Swedbank AB grew its holdings in shares of Prologis by 1.8% during the 4th 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 during the last quarter. 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 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.