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.
See Also
- Five stocks we like better than Prologis
- Stock Average Calculator
- What Are Bonds? A High-Level Overview
- What is the Euro STOXX 50 Index?
- Super Micro Stock Drops Sharply After Earnings on Margin Concerns
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Lyft’s First-Ever Profit, but the Outlook Is a Speed Bump
→ Air Force quietly working with sub $10 stock on new tech (From DTI) (Ad)
Should you invest $1,000 in Prologis right now?
Before you consider Prologis, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Prologis wasn't on the list.
While Prologis currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
13 Stocks Institutional Investors Won't Stop Buying
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
