Prologis (NYSE:PLD) Price Target Raised to $142.00 at Scotiabank

Prologis (NYSE:PLD) had its target price lifted by Scotiabank from $135.00 to $142.00 in a report released on Monday morning, Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the stock. Morgan Stanley increased their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an overweight rating in a report on Wednesday, August 14th. Barclays increased their target price on Prologis from $123.00 to $142.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. Evercore ISI reduced their price objective on Prologis from $123.00 to $122.00 and set an in-line rating for the company in a research report on Tuesday, August 20th. Mizuho dropped their target price on Prologis from $130.00 to $120.00 and set a neutral rating on the stock in a research report on Friday, May 31st. Finally, The Goldman Sachs Group boosted their target price on Prologis from $140.00 to $156.00 and gave the company a buy rating in a research note on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $133.12.

Prologis Price Performance

PLD opened at $126.89 on Monday. The stock has a market capitalization of $117.48 billion, a P/E ratio of 37.10, a price-to-earnings-growth 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 company’s 50 day simple moving average is $119.97 and its 200-day simple moving average is $119.12. Prologis has a one year low of $96.64 and a one year high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. The company’s quarterly revenue was down 18.1% on a year-over-year basis. Sell-side analysts anticipate that Prologis will post 5.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Optimum Investment Advisors acquired a new stake in Prologis during the first quarter worth approximately $26,000. American Capital Advisory LLC bought a new stake in shares of Prologis during the 2nd quarter valued at $26,000. True Wealth Design LLC acquired a new stake in shares of Prologis during the 4th quarter worth $27,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis in the second quarter worth $27,000. Finally, Central Valley Advisors LLC acquired a new position in Prologis in the second quarter valued at about $29,000. 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 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.