Prologis, Inc. (NYSE:PLD) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Prologis, Inc. has received an average recommendation of "Moderate Buy" from nineteen brokerages, with ten recommending a buy and two issuing a strong buy.
• Despite recent price adjustments by several analysts, the average 1-year price target for Prologis stock is $120.33, indicating potential upside from current levels.
• Prologis reported a Q2 earnings per share (EPS) of $1.46, exceeding analysts' estimates, along with a revenue of $2.03 billion, reflecting an 8.8% year-over-year growth.

Prologis, Inc. (NYSE:PLD - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nineteen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, ten have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $120.3333.

Several equities research analysts recently commented on the company. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. Barclays dropped their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Truist Financial dropped their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, UBS Group increased their price objective on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th.

Institutional Trading of Prologis

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLD. Brighton Jones LLC raised its stake in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. CreativeOne Wealth LLC raised its stake in Prologis by 1.7% during the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock valued at $642,000 after purchasing an additional 100 shares during the period. Bridgewater Associates LP increased its stake in Prologis by 185.6% in the 4th quarter. Bridgewater Associates LP now owns 7,642 shares of the real estate investment trust's stock worth $808,000 after acquiring an additional 4,966 shares during the last quarter. Marshall Wace LLP increased its stake in Prologis by 9.5% in the 4th quarter. Marshall Wace LLP now owns 738,572 shares of the real estate investment trust's stock worth $78,067,000 after acquiring an additional 63,777 shares during the last quarter. Finally, MSH Capital Advisors LLC bought a new stake in Prologis in the 4th quarter worth approximately $636,000. Institutional investors own 93.50% of the company's stock.

Prologis Stock Up 0.6%

PLD traded up $0.68 during trading on Friday, reaching $106.53. The stock had a trading volume of 1,924,191 shares, compared to its average volume of 3,687,758. Prologis has a one year low of $85.35 and a one year high of $132.57. The company has a market capitalization of $98.87 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 2.67 and a beta of 1.21. The stock's 50 day moving average is $107.13 and its two-hundred day moving average is $109.10. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the firm posted $1.34 earnings per share. The company's quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts expect that Prologis will post 5.73 earnings per share for the current year.

Prologis Company Profile

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.