Prologis (NYSE:PLD) Receives “Neutral” Rating from The Goldman Sachs Group

Prologis (NYSE:PLD)‘s stock had its “neutral” rating reissued by equities research analysts at The Goldman Sachs Group in a research report issued on Monday, Benzinga reports. They currently have a $132.00 price target on the real estate investment trust’s stock, down from their prior price target of $142.00. The Goldman Sachs Group’s price objective indicates a potential upside of 7.76% from the company’s current price.

Several other equities analysts also recently commented on the stock. Evercore ISI upped their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Truist Financial upped their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Argus upped their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Eight investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.29.

Prologis Stock Down 0.2 %

Shares of NYSE PLD opened at $122.50 on Monday. The firm’s 50-day moving average price is $125.43 and its 200-day moving average price is $117.60. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $113.42 billion, a price-to-earnings ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 earnings per share. On average, equities research analysts anticipate that Prologis will post 5.42 EPS for the current fiscal year.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Prologis

Several institutional investors have recently bought and sold shares of the company. Arbor Capital Management Inc. ADV boosted its stake in Prologis by 0.8% in the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after acquiring an additional 87 shares in the last quarter. CX Institutional boosted its stake in Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA boosted its stake in Prologis by 5.1% in the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 90 shares in the last quarter. Destination Wealth Management boosted its stake in Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 92 shares in the last quarter. Finally, Tiemann Investment Advisors LLC boosted its stake in Prologis by 2.4% in the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after acquiring an additional 100 shares in the last quarter. 93.50% of the stock is currently 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 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.