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

Prologis (NYSE:PLD) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $143.00 to $128.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 23.30% from the company’s current price.

PLD has been the subject of several other research reports. Mizuho reissued a “neutral” rating and issued a $130.00 target price on shares of Prologis in a research note on Tuesday, April 2nd. Evercore ISI cut their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. The Goldman Sachs Group cut their target price on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday. Barclays cut their target price on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, April 17th. Finally, Argus dropped their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.24.

Prologis Price Performance

Shares of NYSE:PLD traded up $0.63 during midday trading on Thursday, hitting $103.81. 2,083,836 shares of the stock were exchanged, compared to its average volume of 3,453,236. The stock has a market cap of $96.03 billion, a P/E ratio of 30.35, a PEG ratio of 2.17 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a 50 day moving average price of $126.24 and a 200-day moving average price of $122.03.

Institutional Investors Weigh In On Prologis

Several institutional investors and hedge funds have recently made changes to their positions in PLD. Family Legacy Inc. increased its position in Prologis by 0.5% in the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after buying an additional 87 shares during the period. Lockerman Financial Group Inc. increased its position in Prologis by 2.0% in the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after buying an additional 87 shares during the period. Hixon Zuercher LLC increased its position in Prologis by 0.6% in the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after buying an additional 88 shares during the period. AdvisorNet Financial Inc increased its position in Prologis by 11.0% in the fourth quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 90 shares during the period. Finally, CVA Family Office LLC increased its position in Prologis by 21.4% in the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 94 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

About Prologis

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.