Are Prologis (NYSE:PLD) Shares Worth Your Time and Dime Following Recent Goldman Downgrade?

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Prologis (NYSE:PLD) Receives a Downgrade

Prologis (NYSE:PLD) was cut by analysts at Goldman from their past “Neutral” rating to a “Sell” rating in recent note issued to investors and clients on 14 December.

From a total of 13 analysts covering Prologis (NYSE:PLD) stock, 18 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 86% of the ratings are positive. The highest target price is $18.5 while the lowest target price is $13. The mean of all analyst targets is $15.46 with a 16.44% above today’s ($41.12) stock price. Prologis was the topic of 12 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Wells Fargo downgraded shares on November 30 to “Market Perform” rating. Cowen & Co upgraded shares to “Outperform” rating and $48 target share price in a report from a July 23. Stifel Nicolaus maintained PLD stock in a recent report from October 21 with “Buy” rating. Robert W. Baird upgraded the rating on July 22. Robert W. Baird has a “Outperform” rating and a $46 price target on shares. Finally, TheStreet downgraded the stock to “Hold” rating in a report issued on a September 4.

Approximately 840,280 shares of stock traded hands. Prologis Inc (NYSE:PLD) has risen 2.40% since May 11, 2015 and is uptrending. It has outperformed by 6.81% the S&P500.

The overall sentiment of institutions has decreased to 1.19 in Q2 2015. Its down 0.23, from 1.42 in 2015Q2. The ratio dived, as 57 institutions have sold all the shares of Prologis Inc that they owned while 124 funds have taken shares off the table. 32 funds have purchased shares for the first time while 183 added to their positions. These institutions now hold 442.98 million shares or 11.16% less than the 498.65 million shares they owned in 2015Q2.

The Fund Presima Inc. currently is holding shares equating to 10.38% of its total portfolio in Prologis Inc representing a total of 1.46 million shares. Another fund,Security Capital Research & Management Inc, is holding a total of 6.14 million shares equating to 7.83% of their holdings. Additionally, Cornerstone Real Estate Advisers Llc has a 288,044 share stake in Prologis Inc which represents 6.14% of their total portfolio. The Fund, Apg Asset Management Us Inc., based out of New York, has also built up a stake in the stock, which represents a total of 5.87% of their total portfolio. Finally Aew Capital Management L P, a fund which is based in the state of Massachusetts reported a total holdings of 5.89 million shares.

Prologis, Inc. is engaged in industrial logistics real estate, focused on markets across the Americas, Europe and Asia. The company has a market cap of $21.72 billion. The Firm leases modern distribution facilities to more than 4,700 customers, including third-party logistics providers, transportation companies, retailers and manufacturers. It has 18.64 P/E ratio. The Company’s business consists of two operating divisions: Real Estate Operations and Strategic Capital.

According to Zacks Investment Research, “Prologis Incorporation is engaged in the acquisition, development, and operation of industrial properties in North America, Europe, and Asia. The Company had been formed after the merger of AMB Property Corporation and Prologis. Prologis Incorporation is headquartered in San Francisco, California.”

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