Prologis (NYSE:PLD) Price Target Raised to $137.00 at Truist Financial

Prologis (NYSE:PLD) had its target price hoisted by Truist Financial from $125.00 to $137.00 in a research report report published on Monday, Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other equities research analysts have also weighed in on the stock. Barclays raised their price objective on shares of Prologis from $123.00 to $142.00 and gave the company an overweight rating in a report on Tuesday, July 30th. StockNews.com upgraded Prologis from a sell rating to a hold rating in a report on Thursday, July 18th. Robert W. Baird lowered their target price on shares of Prologis from $137.00 to $117.00 and set a neutral rating for the company in a report on Wednesday, May 1st. Evercore ISI lifted their price target on shares of Prologis from $119.00 to $123.00 and gave the stock an in-line rating in a research note on Thursday, July 18th. Finally, Scotiabank decreased their target price on Prologis from $149.00 to $130.00 and set a sector outperform rating for the company in a research report on Thursday, May 16th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $132.60.

Prologis Price Performance

PLD opened at $122.01 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. The firm has a market cap of $112.96 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 3.02 and a beta of 1.06. The stock’s 50-day moving average price is $116.28 and its 200 day moving average price is $119.58. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last released 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 business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the company earned $1.83 earnings per share. Prologis’s quarterly revenue was down 18.1% compared to the same quarter last year. As a group, sell-side analysts expect that Prologis will post 5.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PLD. Optimum Investment Advisors acquired a new stake in shares of Prologis in the 1st quarter valued at approximately $26,000. American Capital Advisory LLC acquired a new stake in Prologis in the second quarter valued at $26,000. True Wealth Design LLC purchased a new stake in shares of Prologis during the 4th quarter worth $27,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis in the second quarter valued at about $29,000. Finally, JFS Wealth Advisors LLC lifted its position in shares of Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.