Prologis (NYSE:PLD) Price Target Increased to $124.00 by Analysts at Evercore ISI

Prologis (NYSE:PLD) had its price target increased by Evercore ISI from $122.00 to $124.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on the stock. Truist Financial boosted their price target on shares of Prologis from $125.00 to $137.00 and gave the company a buy rating in a research report on Monday, August 5th. StockNews.com raised shares of Prologis from a sell rating to a hold rating in a research report on Thursday, July 18th. Royal Bank of Canada cut shares of Prologis from an outperform rating to a sector perform rating and boosted their price target for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Mizuho lowered their price target on shares of Prologis from $130.00 to $120.00 and set a neutral rating on the stock in a research report on Friday, May 31st. Finally, BMO Capital Markets reissued a market perform rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $133.12.

Prologis Trading Down 1.6 %

Shares of PLD opened at $126.89 on Wednesday. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average is $119.97 and its two-hundred day moving average is $119.12. The stock has a market cap of $117.48 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the firm earned $1.83 EPS. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. Research analysts forecast that Prologis will post 5.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Prologis

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Optimum Investment Advisors acquired a new position in Prologis in the first quarter valued at approximately $26,000. American Capital Advisory LLC acquired a new stake in shares of Prologis in the second quarter valued at approximately $26,000. True Wealth Design LLC acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $27,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis in the second quarter valued at approximately $27,000. Finally, Central Valley Advisors LLC acquired a new stake in shares of Prologis in the second quarter valued at approximately $29,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.