Prologis (NYSE:PLD) Price Target Cut to $123.00

Prologis (NYSE:PLD) had its price target dropped by equities research analysts at Evercore ISI from $136.00 to $123.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective would suggest a potential upside of 18.85% from the company’s current price.

Several other research analysts have also weighed in on PLD. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Mizuho reissued a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Barclays cut their price objective on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley raised their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

Prologis Trading Down 1.1 %

Shares of PLD opened at $103.49 on Thursday. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $95.73 billion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The stock’s fifty day simple moving average is $127.87 and its 200 day simple moving average is $122.02. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a return on equity of 5.49% and a net margin of 38.73%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $1.24 earnings per share. On average, equities research analysts forecast that Prologis will post 5.47 earnings per share for the current year.

Institutional Trading of Prologis

Hedge funds and other institutional investors have recently bought and sold shares of the company. Optimum Investment Advisors bought a new stake in Prologis in the first quarter valued at about $26,000. True Wealth Design LLC bought a new stake in Prologis in the fourth quarter valued at about $27,000. Thompson Investment Management Inc. bought a new stake in Prologis in the fourth quarter valued at about $28,000. FinTrust Capital Advisors LLC increased its holdings in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in shares of Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.