Prologis, Inc. (NYSE:PLD) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Prologis, Inc. (NYSE:PLD) have been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $133.12.

A number of brokerages have recently weighed in on PLD. The Goldman Sachs Group lifted their price objective on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Scotiabank lifted their target price on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Argus lifted their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd.

Prologis Trading Down 1.2 %

Shares of PLD stock opened at $125.33 on Friday. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36. The stock’s fifty day moving average is $120.31 and its two-hundred day moving average is $119.17. The firm has a market capitalization of $116.04 billion, a P/E ratio of 36.65, a PEG ratio of 3.02 and a beta of 1.06.

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

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction 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 completion of the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Prologis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arbor Capital Management Inc. ADV lifted its stake in shares of Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after acquiring an additional 87 shares during the period. Mitchell Sinkler & Starr PA lifted its position in Prologis by 5.1% in the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 90 shares during the period. Destination Wealth Management boosted its holdings in Prologis by 4.7% in the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares in the last quarter. CVA Family Office LLC lifted its holdings in Prologis by 21.4% in the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 94 shares during the period. Finally, Tiemann Investment Advisors LLC increased its holdings in Prologis by 2.4% in the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after buying an additional 100 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

About Prologis

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.