Prologis (NYSE:PLD - Get Free Report) had its target price raised by investment analysts at Scotiabank from $130.00 to $135.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "sector outperform" rating on the real estate investment trust's stock. Scotiabank's price objective would indicate a potential upside of 12.36% from the company's previous close.
A number of other research firms also recently issued reports on PLD. StockNews.com upgraded Prologis from a "sell" rating to a "hold" rating in a report on Thursday, July 18th. JPMorgan Chase & Co. decreased their price objective on Prologis from $143.00 to $128.00 and set an "overweight" rating for the company in a report on Thursday, April 25th. Mizuho decreased their price objective on Prologis from $130.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, May 31st. UBS Group decreased their price objective on Prologis from $151.00 to $138.00 and set a "buy" rating for the company in a report on Thursday, April 18th. Finally, Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $132.60.
Read Our Latest Stock Analysis on PLD
Prologis Trading Down 0.7 %
Shares of Prologis stock traded down $0.90 during trading hours on Wednesday, hitting $120.15. The company's stock had a trading volume of 2,927,407 shares, compared to its average volume of 3,761,510. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52. The stock has a 50 day moving average of $115.69 and a 200 day moving average of $119.56. The company has a market capitalization of $111.24 billion, a PE ratio of 35.32, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29.
Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company earned $1.83 earnings per share. The firm's revenue was down 18.1% compared to the same quarter last year. Analysts predict that Prologis will post 5.43 earnings per share for the current year.
Institutional Trading of Prologis
A number of hedge funds have recently made changes to their positions in the business. Optimum Investment Advisors acquired a new stake in Prologis during the 1st quarter worth approximately $26,000. American Capital Advisory LLC acquired a new stake in Prologis during the 2nd quarter worth approximately $26,000. True Wealth Design LLC acquired a new stake in Prologis during the 4th quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new stake in Prologis during the 2nd quarter worth approximately $29,000. Finally, JFS Wealth Advisors LLC lifted its holdings in Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 168 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.
Prologis Company Profile
(Get Free Report)
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.
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