Prologis (NYSE:PLD) Stock Price Expected to Rise, Evercore ISI Analyst Says

Key Points

• Evercore ISI has raised its price target for Prologis from $113.00 to $116.00, maintaining an "in-line" rating despite indicating a potential downside from the stock's previous close.
• The company reported an earnings per share (EPS) of $1.49 for the recent quarter, surpassing analysts' expectations and reflecting an 8.6% revenue increase year-over-year.
• Prologis has received a consensus rating of "Moderate Buy" from analysts, with an average price target of $122.74 based on ratings from 21 analysts.

Prologis (NYSE:PLD - Get Free Report) had its price target boosted by investment analysts at Evercore ISI from $113.00 to $116.00 in a research report issued on Thursday,Benzinga reports. The brokerage 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 4.86% from the stock's previous close.

A number of other research firms have also recently commented on PLD. Barclays decreased their price target on Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Mizuho set a $118.00 price target on Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Prologis in a report on Wednesday, October 8th. Scotiabank set a $114.00 price target on Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Finally, UBS Group raised their price target on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.74.

Prologis Stock Performance

Prologis stock traded down $0.83 during trading on Thursday, reaching $121.93. The company had a trading volume of 1,662,512 shares, compared to its average volume of 4,246,794. Prologis has a 52 week low of $85.35 and a 52 week high of $126.92. The firm's 50-day simple moving average is $112.45 and its 200 day simple moving average is $107.91. The firm has a market capitalization of $113.23 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 2.92 and a beta of 1.28. 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 announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the firm earned $1.43 EPS. Prologis's revenue for the quarter was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Sell-side analysts forecast that Prologis will post 5.73 earnings per share for the current fiscal year.

Insider Activity at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business'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 owned 9,829 shares of the company's stock, valued at $1,091,019. This trade represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock valued at $2,952,095 in the last 90 days. Company insiders own 0.57% of the company's stock.

Institutional Trading of Prologis

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nuveen LLC bought a new position in Prologis in the first quarter worth approximately $1,456,768,000. Norges Bank bought a new position in Prologis in the second quarter worth approximately $1,288,936,000. Franklin Resources Inc. raised its stake in Prologis by 216.0% in the second quarter. Franklin Resources Inc. now owns 10,050,843 shares of the real estate investment trust's stock worth $1,056,545,000 after buying an additional 6,870,479 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in Prologis by 282.5% in the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock worth $433,229,000 after buying an additional 2,862,183 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Prologis by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock worth $1,113,994,000 after buying an additional 1,146,454 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

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.

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