Zacks Investment Research downgraded shares of Prologis Inc. (NYSE:PLD) from a buy rating to a hold rating in a research report released on Friday.

According to Zacks, “Prologis’ funds from operations (FFO) per share estimates for the current quarter and full-year 2016 have been stable for the past seven days. Amid a consistent shift toward e-commerce and supply chain strategy transformations, the company is well poised to benefit from its capacity to offer modern distribution facilities in strategic infill locations. In fact, the company’s occupancy and leasing volumes remained high in third-quarter 2016. It witnessed broad-based demand across customer segments, driven by e-commerce, automotive, consumer products and construction supplies. Also, Prologis remains focused on bolstering its liquidity, which is encouraging. Nevertheless, rising number of new facilities, competitive landscape and any further hike in interest rates are the company’s chief concerns.”

A number of other analysts have also weighed in on the stock. Cantor Fitzgerald set a $55.00 price objective on shares of Prologis and gave the stock a buy rating in a research note on Thursday, November 10th. BTIG Research reissued a positive rating and set a $57.00 price target on shares of Prologis in a research report on Friday, November 11th. Oppenheimer Holdings Inc. reissued an outperform rating and set a $57.00 price target on shares of Prologis in a research report on Wednesday, November 2nd. Evercore ISI raised shares of Prologis from a hold rating to a buy rating and set a $56.00 price target for the company in a research report on Tuesday, October 18th. Finally, Capital One Financial Corp. raised shares of Prologis from an underweight rating to an equal weight rating and set a $53.00 price target for the company in a research report on Monday, October 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $51.36.

Prologis (NYSE:PLD) opened at 51.44 on Friday. Prologis has a 12-month low of $35.25 and a 12-month high of $54.87. The stock has a market cap of $27.19 billion, a P/E ratio of 30.73 and a beta of 1.15. The company has a 50 day moving average of $50.21 and a 200-day moving average of $50.99.

Prologis (NYSE:PLD) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. Prologis had a net margin of 34.73% and a return on equity of 4.86%. The company earned $705 million during the quarter, compared to analyst estimates of $221.07 million. During the same period in the prior year, the firm earned $0.58 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts forecast that Prologis will post ($0.27) earnings per share for the current year.

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Large investors have recently added to or reduced their stakes in the company. Evercore Wealth Management LLC raised its position in shares of Prologis by 7.6% in the second quarter. Evercore Wealth Management LLC now owns 2,065 shares of the company’s stock worth $101,000 after buying an additional 145 shares during the period. Solaris Asset Management LLC acquired a new position in shares of Prologis during the third quarter worth about $131,000. Global X Management Co. LLC raised its position in shares of Prologis by 63.4% in the second quarter. Global X Management Co. LLC now owns 2,852 shares of the company’s stock worth $140,000 after buying an additional 1,107 shares during the period. Creative Planning raised its position in shares of Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Prologis during the second quarter worth about $149,000. Institutional investors and hedge funds own 99.13% of the company’s stock.

Prologis Company Profile

Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.

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