Prologis (NYSE:PLD) PT Raised to $146.00

Prologis (NYSE:PLD) had its target price increased by investment analysts at Wells Fargo & Company from $142.00 to $146.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price points to a potential upside of 16.49% from the stock’s current price.

Several other equities research analysts have also commented on the stock. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Bank of America reiterated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. The Goldman Sachs Group increased their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Argus lifted their price target on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.12.

Prologis Price Performance

PLD stock opened at $125.33 on Wednesday. The firm has a 50-day moving average of $120.31 and a 200 day moving average of $119.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29. The company has a market cap of $116.04 billion, a P/E ratio of 36.65, a PEG ratio of 3.02 and a beta of 1.06. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52.

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

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated 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 directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Prologis

A number of institutional investors have recently bought and sold shares of the stock. Optimum Investment Advisors acquired a new position in shares of Prologis in the 1st quarter valued at $26,000. American Capital Advisory LLC acquired a new stake in shares of Prologis during the second quarter worth about $26,000. True Wealth Design LLC purchased a new stake in Prologis in the fourth quarter valued at approximately $27,000. Semmax Financial Advisors Inc. acquired a new position in Prologis in the 2nd quarter worth approximately $27,000. Finally, Central Valley Advisors LLC purchased a new position in Prologis during the 2nd quarter worth approximately $29,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.