Evercore ISI Issues Positive Forecast for Prologis (NYSE:PLD) Stock Price

Key Points

• Evercore ISI raised its target price for Prologis (NYSE:PLD) from $111.00 to $113.00, suggesting a slight potential downside of 1.36% from the last close.
• Prologis reported a quarterly earnings per share (EPS) of $1.46, surpassing analysts' expectations, with a revenue increase of 8.8% compared to the same quarter last year.
• The company has a consensus rating of "Moderate Buy" based on various analysts, with an average target price of $122.17, while institutional investors hold 93.50% of its stock.

Prologis (NYSE:PLD - Get Free Report) had its target price hoisted by research analysts at Evercore ISI from $111.00 to $113.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price target would indicate a potential downside of 1.36% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. 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 report on Wednesday, July 23rd. Mizuho set a $118.00 price objective on Prologis and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Scotiabank set a $114.00 price objective on Prologis and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Finally, Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and an average target price of $122.17.

Prologis Trading Down 0.7%

Shares of Prologis stock traded down $0.79 on Monday, reaching $114.56. The company had a trading volume of 175,578 shares, compared to its average volume of 4,357,790. The firm has a market cap of $106.34 billion, a price-to-earnings ratio of 31.07, a P/E/G ratio of 2.89 and a beta of 1.26. 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 50-day moving average price is $109.18 and its two-hundred day moving average price is $107.84. Prologis has a 1 year low of $85.35 and a 1 year high of $130.16.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.Prologis's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, research analysts predict that Prologis will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Prologis

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

Institutional Investors Weigh In On Prologis

Hedge funds have recently made changes to their positions in the business. Alley Investment Management Company LLC raised its holdings in shares of 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 valued at $12,111,000 after buying an additional 54,914 shares during the last quarter. Jump Financial LLC bought a new stake in Prologis during the first quarter worth approximately $2,120,000. First Citizens Bank & Trust Co. raised its holdings 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 in the last quarter. Truist Financial Corp raised its holdings 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 in the last quarter. Finally, Ally Financial Inc. grew its position in Prologis by 16.7% in the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock worth $3,130,000 after buying an additional 4,000 shares during the last quarter. 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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