Prologis (NYSE:PLD - Get Rating) had its price target hoisted by investment analysts at Wells Fargo & Company from $127.00 to $135.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective points to a potential upside of 17.44% from the stock's current price.
Several other brokerages also recently weighed in on PLD. BMO Capital Markets lowered their target price on shares of Prologis from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, September 27th. Bank of America started coverage on Prologis in a report on Monday, October 24th. They issued a "buy" rating and a $140.00 price target for the company. Barclays decreased their price target on Prologis from $183.00 to $162.00 and set an "overweight" rating on the stock in a research note on Thursday, October 13th. Wolfe Research upgraded shares of Prologis from a "peer perform" rating to an "outperform" rating and set a $200.00 target price on the stock in a research report on Wednesday, August 24th. Finally, Raymond James cut their price target on shares of Prologis from $160.00 to $130.00 and set a "strong-buy" rating for the company in a report on Tuesday, October 18th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $145.39.
Prologis Stock Performance
Shares of PLD opened at $114.95 on Tuesday. The company's 50 day simple moving average is $108.14 and its 200-day simple moving average is $119.11. Prologis has a 12-month low of $98.03 and a 12-month high of $174.54. The firm has a market cap of $106.11 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 2.58 and a beta of 0.95. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.46.
Prologis (NYSE:PLD - Get Rating) last issued its quarterly earnings results on Wednesday, October 19th. The real estate investment trust reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.31). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Prologis had a net margin of 73.21% and a return on equity of 10.43%. The business's revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 EPS. As a group, equities analysts predict that Prologis will post 5.13 EPS for the current year.
Institutional Investors Weigh In On Prologis
A number of large investors have recently bought and sold shares of PLD. MCF Advisors LLC purchased a new stake in Prologis during the 1st quarter worth about $35,000. HHM Wealth Advisors LLC boosted its stake in shares of Prologis by 115.3% during the 3rd quarter. HHM Wealth Advisors LLC now owns 351 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 188 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Prologis during the second quarter worth about $37,000. Baystate Wealth Management LLC raised its position in shares of Prologis by 40.3% in the second quarter. Baystate Wealth Management LLC now owns 317 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 91 shares during the last quarter. Finally, MV Capital Management Inc. lifted its stake in shares of Prologis by 98.9% during the third quarter. MV Capital Management Inc. now owns 360 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 179 shares during the period. Institutional investors and hedge funds own 94.01% of the company's stock.
Prologis Company Profile
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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.
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