Barclays Issues Pessimistic Forecast for Prologis (NYSE:PLD) Stock Price

Key Points

• Barclays has reduced the target price for Prologis (NYSE:PLD) from $119.00 to $118.00, maintaining an "overweight" rating, indicating a potential upside of 2.18% from the current price.
• Other analysts have varied target prices for Prologis, with Wells Fargo setting a target of $137.00 and UBS raising theirs to $120.00, leading to a consensus target price of $121.78 among analysts.
• Prologis recently beat earnings expectations with an EPS of $1.46 for the quarter and reported a revenue increase of 8.8% year-over-year.

Prologis (NYSE:PLD - Get Free Report) had its target price decreased by equities researchers at Barclays from $119.00 to $118.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. Barclays's price target indicates a potential upside of 2.18% from the company's current price.

Several other research firms have also recently commented on PLD. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Citigroup reduced their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. UBS Group raised their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $121.78.

Prologis Trading Up 0.6%

NYSE PLD opened at $115.48 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm's fifty day moving average price is $109.18 and its 200 day moving average price is $107.84. The company has a market capitalization of $107.20 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.89 and a beta of 1.26. Prologis has a 12 month low of $85.35 and a 12 month high of $132.39.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $1.34 EPS. The company's revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, sell-side analysts expect that Prologis will post 5.73 earnings per share for the current fiscal year.

Insider Activity

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the sale, the director owned 9,829 shares of the company's stock, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Prologis

Large investors have recently bought and sold shares of the stock. Alley Investment Management Company LLC raised its stake in Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after purchasing an additional 54,914 shares during the period. Jump Financial LLC purchased a new position in Prologis during the first quarter worth approximately $2,120,000. First Citizens Bank & Trust Co. raised its stake in Prologis by 1,451.2% during the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock worth $3,486,000 after purchasing an additional 29,170 shares during the period. Truist Financial Corp raised its stake in Prologis by 9.3% during the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after purchasing an additional 25,229 shares during the period. Finally, Ally Financial Inc. raised its stake in Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock worth $3,130,000 after purchasing an additional 4,000 shares during the period. Hedge funds and other institutional investors 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.

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