Prologis (NYSE:PLD) Given New $100.00 Price Target at Scotiabank

Prologis (NYSE:PLD - Get Free Report) had its price target boosted by stock analysts at Scotiabank from $97.00 to $100.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "sector underperform" rating on the real estate investment trust's stock. Scotiabank's price target would suggest a potential downside of 10.28% from the stock's current price.

A number of other brokerages have also recently commented on PLD. Royal Bank of Canada reduced their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Truist Financial cut 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. Robert W. Baird decreased their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Barclays decreased their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and an average price target of $121.84.

Prologis Price Performance

NYSE:PLD traded up $4.55 during trading hours on Monday, hitting $111.46. The company's stock had a trading volume of 3,107,874 shares, compared to its average volume of 4,159,138. The stock has a fifty day simple moving average of $105.95 and a 200-day simple moving average of $111.30. The company has a market capitalization of $103.43 billion, a P/E ratio of 27.89, a PEG ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis has a twelve month low of $85.35 and a twelve month high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, analysts anticipate that Prologis will post 5.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Prologis by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 48,108 shares of the real estate investment trust's stock worth $5,085,000 after purchasing an additional 1,898 shares in the last quarter. Czech National Bank increased its holdings in shares of Prologis by 6.5% in the 4th quarter. Czech National Bank now owns 200,813 shares of the real estate investment trust's stock worth $21,226,000 after purchasing an additional 12,195 shares in the last quarter. Green Alpha Advisors LLC increased its holdings in shares of Prologis by 1.5% in the 4th quarter. Green Alpha Advisors LLC now owns 10,320 shares of the real estate investment trust's stock worth $1,091,000 after purchasing an additional 152 shares in the last quarter. Cardano Risk Management B.V. increased its holdings in shares of Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock worth $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Finally, Grassi Investment Management increased its holdings in shares of Prologis by 1.0% in the 4th quarter. Grassi Investment Management now owns 254,325 shares of the real estate investment trust's stock worth $26,882,000 after purchasing an additional 2,400 shares in 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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