Prologis (NYSE:PLD – Get Free Report)‘s stock had its “buy” rating reaffirmed by Truist Financial in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $120.00 price objective on the real estate investment trust’s stock. Truist Financial’s target price points to a potential upside of 7.00% from the company’s current price.
Other analysts have also issued research reports about the stock. Mizuho reaffirmed a “buy” rating and set a $140.00 target price on shares of Prologis in a report on Wednesday, September 13th. Barclays reduced their target price on Prologis from $159.00 to $153.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. TheStreet downgraded Prologis from a “b-” rating to a “c+” rating in a research report on Friday, October 20th. Raymond James decreased their price objective on shares of Prologis from $145.00 to $130.00 and set a “strong-buy” rating on the stock in a research report on Monday, October 23rd. Finally, StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Three research 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 stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.00.
Check Out Our Latest Report on Prologis
Prologis Stock Performance
NYSE:PLD traded up $0.15 on Monday, reaching $112.15. 1,791,949 shares of the company’s stock were exchanged, compared to its average volume of 2,970,924. The firm has a market cap of $103.62 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 2.35 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a fifty day simple moving average of $108.19 and a 200-day simple moving average of $117.96. Prologis has a 52 week low of $96.64 and a 52 week high of $136.67.
Prologis (NYSE:PLD – Get Free Report) last posted its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.72 billion. Prologis had a return on equity of 5.21% and a net margin of 38.24%. The business’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share. As a group, sell-side analysts predict that Prologis will post 5.6 earnings per share for the current year.
Institutional Investors Weigh In On Prologis
Large investors have recently made changes to their positions in the business. Checchi Capital Advisers LLC boosted its stake in Prologis by 0.5% in the 1st quarter. Checchi Capital Advisers LLC now owns 16,292 shares of the real estate investment trust’s stock worth $2,033,000 after purchasing an additional 81 shares in the last quarter. CVA Family Office LLC grew its stake in shares of Prologis by 3.3% during the 2nd quarter. CVA Family Office LLC now owns 2,531 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 82 shares during the period. Carlson Capital Management boosted its position in shares of Prologis by 4.5% in the second quarter. Carlson Capital Management now owns 1,885 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 82 shares during the period. CreativeOne Wealth LLC increased its stake in Prologis by 1.5% in the 2nd quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust’s stock worth $680,000 after buying an additional 82 shares in the last quarter. Finally, Destination Wealth Management raised its stake in Prologis by 4.4% during the 1st quarter. Destination Wealth Management now owns 1,949 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 83 shares during the period. 90.90% of the stock is currently owned by institutional investors.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At September 30, 2023, 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 (114 million square meters) in 19 countries.
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