Prologis (NYSE:PLD) PT Raised to $156.00

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

Several other research analysts also recently weighed in on the company. Royal Bank of Canada dropped their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Robert W. Baird dropped their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI boosted their price target on Prologis from $119.00 to $123.00 and gave the company an “in-line” rating in a research note on Thursday, July 18th. Argus boosted their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $129.67.

Prologis Stock Up 0.3 %

Shares of PLD traded up $0.34 during trading hours on Thursday, hitting $123.42. The company had a trading volume of 716,353 shares, compared to its average volume of 3,740,757. The company has a market capitalization of $114.27 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.98 and a beta of 1.06. The company has a current ratio of 0.10, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. Prologis has a one year low of $96.64 and a one year high of $137.52. The company’s fifty day moving average price is $112.96 and its two-hundred day moving average price is $120.09.

Prologis (NYSE:PLD) last announced its earnings results 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 business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the firm earned $1.83 earnings per share. The firm’s quarterly revenue was down 18.1% compared to the same quarter last year. As a group, equities analysts forecast that Prologis will post 5.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prologis

A number of large investors have recently bought and sold shares of the business. Destination Wealth Management raised its holdings in Prologis by 4.7% in the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 92 shares during the period. Provident Co of the Employees of the Hebrew University LTD raised its holdings in Prologis by 82.7% in the 2nd quarter. Provident Co of the Employees of the Hebrew University LTD now owns 18,190 shares of the real estate investment trust’s stock worth $2,042,000 after purchasing an additional 8,236 shares during the period. Banque Pictet & Cie SA raised its holdings in Prologis by 40.9% in the 2nd quarter. Banque Pictet & Cie SA now owns 2,410 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 700 shares during the period. Atlantic Union Bankshares Corp acquired a new position in Prologis in the 2nd quarter worth about $230,000. Finally, LRI Investments LLC raised its holdings in Prologis by 844.6% in the 2nd quarter. LRI Investments LLC now owns 11,099 shares of the real estate investment trust’s stock worth $1,247,000 after purchasing an additional 9,924 shares during the period. Institutional investors and hedge funds 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.