Prologis (NYSE:PLD) Price Target Cut to $133.00 by Analysts at Evercore ISI

Prologis (NYSE:PLDGet Rating) had its price target cut by Evercore ISI from $134.00 to $133.00 in a report published on Monday morning, The Fly reports. They currently have an in-line rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Prologis from $174.00 to $146.00 and set a buy rating for the company in a research note on Thursday, June 30th. Wells Fargo & Company boosted their price objective on shares of Prologis from $160.00 to $163.00 and gave the company an overweight rating in a research note on Thursday, August 11th. Raymond James cut their price target on shares of Prologis from $190.00 to $160.00 in a research note on Thursday, July 21st. Wolfe Research raised shares of Prologis from a peer perform rating to an outperform rating and set a $200.00 price target for the company in a research note on Wednesday, August 24th. Finally, Barclays cut their price target on shares of Prologis from $190.00 to $183.00 and set an overweight rating for the company in a research note on Thursday, July 21st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Prologis currently has an average rating of Buy and a consensus price target of $173.31.

Prologis Stock Performance

NYSE PLD opened at $108.54 on Monday. The company’s 50 day moving average is $126.98 and its 200-day moving average is $135.40. Prologis has a 12-month low of $106.46 and a 12-month high of $174.54. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.46. The firm has a market cap of $80.36 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 2.38 and a beta of 0.88.

Prologis (NYSE:PLDGet Rating) last posted its quarterly earnings results on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.30). The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.09 billion. Prologis had a net margin of 75.72% and a return on equity of 9.85%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS. Sell-side analysts predict that Prologis will post 5.17 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.79 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.91%. Prologis’s payout ratio is 63.20%.

Institutional Investors Weigh In On Prologis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLD. American National Bank bought a new stake in Prologis during the 1st quarter valued at $26,000. William Allan LLC bought a new stake in Prologis during the 4th quarter valued at $27,000. M&R Capital Management Inc. raised its holdings in Prologis by 245.1% during the 1st quarter. M&R Capital Management Inc. now owns 176 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 125 shares during the last quarter. MCF Advisors LLC bought a new stake in Prologis during the 1st quarter valued at $35,000. Finally, Financial Management Professionals Inc. raised its holdings in Prologis by 43.8% during the 1st quarter. Financial Management Professionals Inc. now owns 220 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 67 shares during the last quarter. 94.01% of the stock is currently owned by institutional investors.

Prologis Company Profile

(Get Rating)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

Read More

The Fly logo

Analyst Recommendations for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.