Bank of America Reiterates Neutral Rating for Prologis (NYSE:PLD)

Prologis (NYSE:PLD)‘s stock had its “neutral” rating reiterated by stock analysts at Bank of America in a research report issued on Monday, MarketBeat reports. They presently have a $128.00 target price on the real estate investment trust’s stock. Bank of America‘s price objective would indicate a potential upside of 4.34% from the stock’s current price.

A number of other research firms have also recently issued reports on PLD. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Evercore ISI upped their price target on shares of Prologis from $119.00 to $123.00 and gave the company an “in-line” rating in a research report on Thursday, July 18th. Barclays upped their price target on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, Scotiabank upped their price target on shares of Prologis from $130.00 to $135.00 and gave the company a “sector outperform” rating in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $132.31.

Prologis Price Performance

PLD stock opened at $122.68 on Monday. The company has a 50 day simple moving average of $117.04 and a 200 day simple moving average of $119.36. The stock has a market cap of $113.58 billion, a price-to-earnings ratio of 35.87, a P/E/G 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. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29.

Prologis (NYSE:PLD) last released its quarterly earnings data 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). The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 earnings per share. Research analysts anticipate that Prologis will post 5.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PLD. Optimum Investment Advisors bought a new position in Prologis during the first quarter worth $26,000. American Capital Advisory LLC bought a new position in shares of Prologis in the second quarter valued at $26,000. True Wealth Design LLC bought a new position in shares of Prologis in the fourth quarter valued at $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis in the second quarter valued at $29,000. Finally, JFS Wealth Advisors LLC lifted its stake in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 168 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

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.