Prologis (NYSE:PLD) PT Raised to $156.00

Prologis (NYSE:PLD) had its price objective boosted by equities researchers at The Goldman Sachs Group from $140.00 to $156.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 26.40% from the company’s current price.

PLD has been the subject of several other research reports. Mizuho cut their price objective on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. JPMorgan Chase & Co. lowered their target price on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Scotiabank lowered their target price on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. Barclays lowered their target price on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, UBS Group lowered their target price on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Prologis Price Performance

PLD traded up $0.34 on Thursday, hitting $123.42. 716,353 shares of the stock were exchanged, compared to its average volume of 3,740,757. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52. The business has a 50-day moving average of $112.96 and a two-hundred day moving average of $120.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.10 and a quick ratio of 0.29. The firm has a market capitalization of $114.27 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 2.98 and a beta of 1.06.

Prologis (NYSE:PLD) last posted 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 return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company earned $1.83 EPS. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. Sell-side analysts forecast that Prologis will post 5.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Prologis

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after purchasing an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC raised its position in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Prologis by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after buying an additional 365,904 shares during the last quarter. Principal Financial Group Inc. raised its position in Prologis by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after buying an additional 123,902 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Prologis by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after buying an additional 175,276 shares during the last quarter. 93.50% of the stock is currently 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.