Prologis (NYSE:PLD) Price Target Cut to $135.00

Prologis (NYSE:PLD) had its price target dropped by equities researchers at Barclays from $141.00 to $135.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 27.21% from the stock’s previous close.

Several other brokerages also recently issued reports on PLD. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Royal Bank of Canada raised their price target on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Mizuho reaffirmed a “neutral” rating and set a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. Evercore ISI reaffirmed an “in-line” rating and set a $136.00 price target on shares of Prologis in a report on Monday, March 18th. Finally, Raymond James raised their price target on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.27.

Prologis Stock Down 7.5 %

Shares of NYSE PLD traded down $8.62 during trading hours on Wednesday, hitting $106.12. The company had a trading volume of 8,334,448 shares, compared to its average volume of 3,314,133. The stock has a market capitalization of $98.17 billion, a P/E ratio of 32.16, a price-to-earnings-growth ratio of 2.31 and a beta of 1.00. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis has a 1-year low of $96.64 and a 1-year high of $137.52. The firm’s 50 day moving average is $129.44 and its 200-day moving average is $122.30.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the business earned $1.24 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts expect that Prologis will post 5.5 earnings per share for the current fiscal year.

Institutional Trading of Prologis

Several large investors have recently bought and sold shares of PLD. Optimum Investment Advisors acquired a new stake in Prologis in the first quarter valued at about $26,000. True Wealth Design LLC acquired a new stake in shares of Prologis during the fourth quarter valued at about $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Prologis during the fourth quarter valued at about $28,000. FinTrust Capital Advisors LLC boosted its stake in shares of Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 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 (115 million square meters) in 19 countries.