Prologis (NYSE:PLD) Price Target Raised to $133.00

Prologis (NYSE:PLD) had its target price raised by Morgan Stanley from $132.00 to $133.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on PLD. The Goldman Sachs Group raised their price target on shares of Prologis from $140.00 to $156.00 and gave the company a buy rating in a research report on Thursday, July 25th. Argus lifted their target price on Prologis from $120.00 to $135.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. StockNews.com raised Prologis from a sell rating to a hold rating in a research report on Thursday, July 18th. Evercore ISI lifted their price objective on shares of Prologis from $119.00 to $123.00 and gave the stock an in-line rating in a report on Thursday, July 18th. Finally, Barclays increased their target price on shares of Prologis from $123.00 to $142.00 and gave the company an overweight rating in a report on Tuesday, July 30th. Seven 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 a consensus rating of Moderate Buy and a consensus target price of $131.81.

Prologis Stock Performance

Shares of Prologis stock opened at $122.87 on Wednesday. The business has a 50-day simple moving average of $117.88 and a 200 day simple moving average of $119.39. Prologis has a one year low of $96.64 and a one 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. The firm has a market capitalization of $113.76 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 3.02 and a beta of 1.06.

Prologis (NYSE:PLD) last issued its earnings results 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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business earned $1.83 earnings per share. Prologis’s revenue for the quarter was down 18.1% on a year-over-year basis. On average, research analysts anticipate that Prologis will post 5.43 earnings per share for the current fiscal year.

Institutional Trading of Prologis

A number of institutional investors have recently added to or reduced their stakes in PLD. Nordea Investment Management AB lifted its holdings in shares of Prologis by 380.0% in the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after buying an additional 263,649 shares in the last quarter. Janney Capital Management LLC lifted its stake 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 purchasing an additional 3,773 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Prologis by 36.1% in 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 purchasing an additional 43,235 shares during the period. Atalanta Sosnoff Capital LLC purchased a new position in shares of Prologis during the 4th quarter valued at $18,551,000. Finally, US Bancorp DE increased its holdings in shares of Prologis by 6.5% in the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after purchasing an additional 41,469 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.