Prologis (NYSE:PLD) Given New $135.00 Price Target at Argus

Prologis (NYSE:PLD) had its price objective lifted by research analysts at Argus from $120.00 to $135.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Argus’ price target would suggest a potential upside of 7.48% from the stock’s previous close.

A number of other brokerages have also recently weighed in on PLD. Evercore ISI upped their price objective on shares of Prologis from $119.00 to $123.00 and gave the stock an “in-line” rating in a report on Thursday, July 18th. The Goldman Sachs Group reduced their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Robert W. Baird reduced their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Scotiabank reduced their price target on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Finally, Barclays reduced their price target on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Five 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’s stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average target price of $128.60.

Prologis Trading Down 0.8 %

PLD stock traded down $1.06 during trading on Tuesday, reaching $125.60. The company had a trading volume of 484,406 shares, compared to its average volume of 3,735,752. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a market cap of $116.29 billion, a P/E ratio of 36.73, a PEG ratio of 2.93 and a beta of 1.06. The business has a 50 day moving average of $112.35 and a 200 day moving average of $120.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.10 and a quick ratio of 0.29.

Prologis (NYSE:PLD) last released its quarterly 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 the consensus estimate of $1.86 billion. During the same period in the previous year, the company earned $1.83 earnings per share. Prologis’s quarterly revenue was down 18.1% on a year-over-year basis. As a group, sell-side analysts forecast that Prologis will post 5.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Family Legacy Inc. lifted its stake in shares of Prologis by 0.5% during the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock valued at $2,217,000 after buying an additional 87 shares in the last quarter. Lockerman Financial Group Inc. lifted its stake in shares of Prologis by 2.0% during the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 87 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Prologis by 11.0% during the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 90 shares in the last quarter. CVA Family Office LLC lifted its stake in shares of Prologis by 21.4% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 94 shares in the last quarter. Finally, Tiemann Investment Advisors LLC lifted its stake in shares of Prologis by 2.4% during the 1st 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. Hedge funds and other institutional investors 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.