Prologis (NYSE:PLD) Price Target Cut to $121.00 by Analysts at Truist Financial

Prologis (NYSE:PLDGet Free Report) had its target price reduced by Truist Financial from $132.00 to $121.00 in a report issued on Friday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective suggests a potential upside of 10.49% from the stock’s previous close.

Several other analysts have also recently commented on the company. Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Raymond James reissued an “outperform” rating and issued a $125.00 price target (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $124.00 to $123.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $128.67.

View Our Latest Report on Prologis

Prologis Stock Down 1.3 %

PLD opened at $109.51 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day simple moving average of $110.34 and a 200-day simple moving average of $118.29. The stock has a market capitalization of $101.43 billion, a P/E ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09. Prologis has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis (NYSE:PLDGet Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 earnings per share. On average, equities analysts anticipate that Prologis will post 5.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prologis

Institutional investors and hedge funds have recently modified their holdings of the stock. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis in the second quarter worth about $27,000. Dunhill Financial LLC boosted its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the period. Sunbelt Securities Inc. boosted its position in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the period. Hara Capital LLC purchased a new stake in shares of Prologis in the third quarter worth about $48,000. Finally, Coastline Trust Co purchased a new stake in shares of Prologis in the third quarter worth about $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

About Prologis

(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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Analyst Recommendations for Prologis (NYSE:PLD)

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