Prologis (NYSE:PLD) Given New $140.00 Price Target at Citigroup

Prologis (NYSE:PLD - Get Free Report) had its target price reduced by Citigroup from $150.00 to $140.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. Citigroup's price objective indicates a potential upside of 27.30% from the company's previous close.

A number of other equities analysts have also recently commented on PLD. Barclays reduced their price objective on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. UBS Group raised their price objective on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada decreased their target price on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Finally, Evercore ISI dropped their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.74.

Prologis Price Performance

PLD stock traded up $0.26 during midday trading on Wednesday, reaching $109.98. 1,286,950 shares of the company's stock traded hands, compared to its average volume of 4,633,783. Prologis has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a market cap of $102.05 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.76 and a beta of 1.23. The company has a quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60. The company has a 50-day simple moving average of $107.49 and a two-hundred day simple moving average of $109.72.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the business earned $1.34 earnings per share. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts anticipate that Prologis will post 5.73 earnings per share for the current year.

Hedge Funds Weigh In On Prologis

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis during the 4th quarter worth approximately $26,000. Activest Wealth Management increased its stake in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 223 shares in the last quarter. REAP Financial Group LLC raised its holdings in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 84 shares during the period. Pandora Wealth Inc. bought a new position in shares of Prologis during the 1st quarter worth about $34,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Prologis in the 1st quarter valued at about $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.