Prologis (NYSE:PLD) PT Raised to $175.00

Prologis (NYSE:PLD) had its target price boosted by analysts at Wells Fargo & Company from $160.00 to $175.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 16.53% from the company’s previous close.

Several other equities analysts also recently commented on PLD. Truist Securities upped their target price on Prologis from $123.00 to $137.00 and gave the company a “buy” rating in a research report on Saturday, July 31st. Raymond James increased their price target on Prologis from $143.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 20th. Royal Bank of Canada increased their price target on Prologis from $144.00 to $164.00 and gave the stock an “outperform” rating in a research report on Monday, November 8th. The Goldman Sachs Group raised Prologis from a “buy” rating to a “conviction-buy” rating and increased their price target for the stock from $166.00 to $180.00 in a research report on Thursday, October 21st. Finally, Truist increased their price target on Prologis from $137.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, October 25th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis has an average rating of “Buy” and a consensus target price of $147.47.

Shares of Prologis stock traded down $0.41 on Friday, hitting $150.17. The stock had a trading volume of 12,431 shares, compared to its average volume of 2,479,735. Prologis has a twelve month low of $93.08 and a twelve month high of $151.72. The business’s 50 day moving average is $137.84 and its two-hundred day moving average is $129.44. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.47. The stock has a market cap of $111.02 billion, a price-to-earnings ratio of 56.67, a price-to-earnings-growth ratio of 4.58 and a beta of 0.78.

Prologis (NYSE:PLD) last posted its earnings results on Thursday, October 14th. The real estate investment trust reported $0.97 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.06). Prologis had a net margin of 42.95% and a return on equity of 5.42%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $0.90 EPS. Prologis’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities analysts predict that Prologis will post 4.12 earnings per share for the current fiscal year.

In other news, Director William D. Zollars sold 1,380 shares of the stock in a transaction on Monday, November 8th. The stock was sold at an average price of $146.20, for a total value of $201,756.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hamid R. Moghadam sold 305,645 shares of the stock in a transaction on Friday, October 22nd. The shares were sold at an average price of $144.24, for a total value of $44,086,234.80. The disclosure for this sale can be found here. Insiders have sold 345,380 shares of company stock valued at $49,569,018 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Bridgewater Associates LP bought a new position in Prologis during the 2nd quarter worth $1,358,000. abrdn plc raised its position in Prologis by 20.0% during the 2nd quarter. abrdn plc now owns 1,713,019 shares of the real estate investment trust’s stock worth $204,757,000 after purchasing an additional 285,900 shares during the last quarter. Bank of Montreal Can raised its position in Prologis by 89.9% during the 2nd quarter. Bank of Montreal Can now owns 2,910,616 shares of the real estate investment trust’s stock worth $354,018,000 after purchasing an additional 1,377,517 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Prologis by 37.7% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,970 shares of the real estate investment trust’s stock worth $1,789,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in Prologis by 11.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,417,602 shares of the real estate investment trust’s stock worth $287,894,000 after purchasing an additional 255,152 shares during the last quarter. 92.23% of the stock is owned by institutional investors and hedge funds.

About Prologis

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

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Analyst Recommendations for Prologis (NYSE:PLD)

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