Prologis (NYSE:PLD) PT Lowered to $136.00

Prologis (NYSE:PLD) had its price target lowered by stock analysts at Scotiabank from $142.00 to $136.00 in a report released on Friday, Benzinga reports. The firm currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 13.87% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Evercore ISI lifted their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Wells Fargo & Company lifted their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Argus upped their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Barclays decreased their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Stock Down 0.8 %

PLD stock traded down $0.96 during trading on Friday, reaching $119.43. The stock had a trading volume of 525,742 shares, compared to its average volume of 3,633,364. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $110.57 billion, a price-to-earnings ratio of 34.82, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis has a one year low of $96.64 and a one year high of $137.52. The company’s 50 day moving average is $125.26 and its two-hundred day moving average is $117.54.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Equities research analysts forecast that Prologis will post 5.42 EPS for the current year.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Institutional Trading of Prologis

A number of hedge funds have recently modified their holdings of the business. Nordea Investment Management AB boosted its stake in Prologis by 380.0% during 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 acquiring an additional 263,649 shares in the last quarter. Swedbank AB boosted its position in shares of 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 purchasing an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of 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 worth $18,305,000 after buying an additional 43,235 shares during the last quarter. US Bancorp DE increased its position in Prologis by 6.5% during the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after buying an additional 41,469 shares in the last quarter. Finally, Sunflower Bank N.A. purchased a new position in Prologis during the third quarter valued at $249,000. Institutional investors own 93.50% of the company’s stock.

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.