Market Overview

UPDATE: Stifel Nicolaus Downgrades Prologis to Hold on Valuation

Related PLD
The Top REITs That Mutual Funds Are Buying And Selling
Fund Flows Are Signaling Upside In These Three REIT Stocks
Prologis with $920M in deals in Q3 (Seeking Alpha)

Stifel Nicolaus downgraded Prologis (NYSE: PLD) from Buy to Hold and removed the price target of $40.00.

Stifel Nicolaus commented, "Based largely on valuation, we are downgrading to Hold. Since the Prologis Investor Day on September 14, 2012, PLD has outperformed the RMS by roughly 734 bps, up 9.05% vs the RMS up 1.71%. We projected forward our post NPR and PELP Net Asset Value to 2Q13 stabilized. The transactions together reduce the implied cap rates to 5.72%/4.89%/4.03% from 5.79%/5.05%/4.29%. … Over the longer term, we have great confidence in PLD management, and we think the "bull case" for Prologis continues to outweigh the "bear case"."

Prologis closed at $39.42 on Thursday.

Latest Ratings for PLD

Sep 2015Stifel NicolausUpgradesHoldBuy
Sep 2015Evercore PartnersMaintainsBuy
Jul 2015BarclaysMaintainsOverweight

View More Analyst Ratings for PLD
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Downgrades Analyst Ratings


Related Articles (PLD)

Get Benzinga's Newsletters