Prologis’ (PLD) “Outperform” Rating Reaffirmed at Raymond James

Prologis (NYSE:PLD)‘s stock had its “outperform” rating reaffirmed by stock analysts at Raymond James in a research note issued on Wednesday, MarketBeat Ratings reports. They currently have a $125.00 target price on the real estate investment trust’s stock, down from their prior target price of $130.00. Raymond James’ price target suggests a potential upside of 11.93% from the stock’s previous close.

PLD has been the topic of a number of other research reports. Morgan Stanley lifted their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Scotiabank decreased their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. Truist Financial cut their price objective on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Finally, Barclays increased their target price on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $128.88.

Prologis Price Performance

Shares of PLD opened at $111.68 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market cap of $103.44 billion, a PE ratio of 33.83, a PEG ratio of 3.27 and a beta of 1.07. Prologis has a 12-month low of $101.11 and a 12-month high of $137.52. The business has a 50-day simple moving average of $116.88 and a two-hundred day simple moving average of $119.01.

Prologis (NYSE:PLD) last released its quarterly earnings data 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the company earned $1.30 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts anticipate that Prologis will post 5.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prologis

A number of hedge funds have recently added to or reduced their stakes in PLD. Semmax Financial Advisors Inc. bought a new position in shares of Prologis in the 2nd quarter worth $27,000. American Capital Advisory LLC acquired a new position in Prologis during the second quarter worth $26,000. Dunhill Financial LLC lifted its stake 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 valued at $33,000 after buying an additional 182 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis during the second quarter worth about $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Prologis

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.