Prologis (NYSE:PLD) Price Target Raised to $128.00 at Evercore ISI

Prologis (NYSE:PLD) had its target price hoisted by equities researchers at Evercore ISI from $124.00 to $128.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price points to a potential downside of 1.04% from the company’s previous close.

A number of other brokerages have also issued reports on PLD. Scotiabank upped their price target on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Wells Fargo & Company raised their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group boosted their price target on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, Morgan Stanley raised their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $133.35.

Prologis Stock Down 0.5 %

Shares of NYSE PLD traded down $0.63 during midday trading on Monday, reaching $129.35. 1,113,198 shares of the company’s stock traded hands, compared to its average volume of 3,612,016. The company has a market cap of $119.76 billion, a price-to-earnings ratio of 37.82, a P/E/G ratio of 3.36 and a beta of 1.07. The stock’s 50 day simple moving average is $124.42 and its 200-day simple moving average is $118.74. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis has a one year low of $96.64 and a one year high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue was down 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 earnings per share. On average, analysts predict that Prologis will post 5.42 EPS for the current fiscal year.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Prologis

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLD. Vanguard Group Inc. grew its stake in Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Prologis by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after acquiring an additional 317,815 shares during the period. Price T Rowe Associates Inc. MD increased its position in Prologis by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after purchasing an additional 365,904 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Prologis by 1.4% during the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after buying an additional 167,131 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.