Goldman Sachs Lowers Prologis Outlook: Analysts Remain Cautiously Optimistic
Latest Recommendations and Price Targets
Fintel reports that on October 21, 2024, Goldman Sachs downgraded their outlook for Prologis (LSE:0KOD) from Buy to Neutral.
Analysts Predict Modest Growth Ahead
As of September 25, 2024, the average one-year price target for Prologis stands at 138.13 GBX/share. Predictions vary, with a low estimate of 121.20 GBX and a high of 161.70 GBX. This average price target suggests an increase of 16.91% from its latest closing price of 118.15 GBX/share.
Revenue Projections and Earnings Analysis
The projected annual revenue for Prologis is 7,470MM, reflecting a decrease of 9.34%. The anticipated non-GAAP EPS is estimated at 2.90.
Institutional Investment Insights
There are currently 2,555 funds or institutions with positions in Prologis, marking a slight decrease of four owners, or 0.16%, over the last quarter. The average portfolio weight for these funds in Prologis is 0.84%, an increase of 7.10%. Total institutional shares increased by 3.86% in the last three months, bringing the total to 987,442K shares.
VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 37,050K shares, representing 4.00% ownership of the company. This is a decrease from the previous 37,733K shares, indicating a reduction of 1.84%. However, the firm has increased its portfolio allocation in 0KOD by 8.06% over the last quarter.
JPMorgan Chase has 34,186K shares, which equals 3.69% ownership. This reflects a decrease from 36,257K shares, or a decline of 6.06%. The firm’s allocation in 0KOD dropped significantly by 87.63% in the last quarter.
Cohen & Steers owns 33,947K shares, accounting for 3.67% ownership. This marks an increase from 28,788K shares, or a growth of 15.20%. Their portfolio allocation in 0KOD increased by 1.86% over the prior quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares possesses 29,267K shares, representing 3.16%. Previously, they held 29,080K shares, a slight increase of 0.64%, but their allocation for 0KOD decreased by 15.59% recently.
Finally, VFINX – Vanguard 500 Index Fund Investor Shares holds 23,763K shares, about 2.57% ownership. This is up from 23,284K shares, an increase of 2.01%, although their allocation also fell by 16.68% last quarter.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
