Prologis (NYSE:PLD) PT Lowered to $122.00

Prologis (NYSE:PLD) had its target price cut by Evercore ISI from $123.00 to $122.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada cut shares of Prologis from an outperform rating to a sector perform rating and raised their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Barclays raised their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. Mizuho reduced their target price on Prologis from $130.00 to $120.00 and set a neutral rating on the stock in a report on Friday, May 31st. Bank of America restated a neutral rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Finally, Morgan Stanley upped their price target on Prologis from $132.00 to $133.00 and gave the stock an overweight rating in a research note on Wednesday, August 14th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $131.75.

Prologis Stock Up 2.3 %

NYSE PLD opened at $128.84 on Tuesday. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52. The stock has a market capitalization of $119.29 billion, a PE ratio of 37.67, a PEG ratio of 3.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29. The business’s 50-day moving average is $119.24 and its 200 day moving average is $119.31.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business 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%. Prologis’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.83 earnings per share. Sell-side analysts forecast that Prologis will post 5.43 earnings per share for the current year.

Hedge Funds Weigh In On Prologis

A number of hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after purchasing an additional 263,649 shares in the last quarter. Janney Capital Management LLC increased its holdings in Prologis by 18.8% in the 4th quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock worth $3,182,000 after buying an additional 3,773 shares in the last quarter. Swedbank AB raised its position in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after acquiring an additional 43,235 shares during the period. Finally, Atalanta Sosnoff Capital LLC purchased a new stake in shares of Prologis during the 4th quarter valued at about $18,551,000. 93.50% of the stock is currently owned by hedge funds and other 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 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.