Prologis (NYSE:PLD) Sets New 52-Week High – Here’s Why

Prologis, Inc. (NYSE:PLD) hit a new 52-week high on Monday . The company traded as high as $129.77 and last traded at $129.3930, with a volume of 985438 shares changing hands. The stock had previously closed at $128.53.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PLD shares. Wells Fargo & Company lifted their target price on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Industrial Alliance Securities set a $119.00 price objective on Prologis in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Prologis in a report on Monday. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and raised their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Finally, UBS Group set a $133.00 price target on Prologis in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $125.39.

Prologis Stock Up 0.1%

The stock has a market cap of $119.89 billion, a PE ratio of 37.63, a PEG ratio of 3.96 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. The company has a 50 day moving average price of $122.14 and a two-hundred day moving average price of $113.48.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $1.43 EPS. Prologis’s revenue for the quarter was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the sale, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,621 shares of company stock worth $198,655 in the last 90 days. 0.57% of the stock is owned by corporate insiders.

Institutional Trading of Prologis

Several large investors have recently added to or reduced their stakes in the business. Allworth Financial LP increased its holdings in Prologis by 2.2% during the third quarter. Allworth Financial LP now owns 234,768 shares of the real estate investment trust’s stock valued at $26,886,000 after buying an additional 5,071 shares during the last quarter. IFP Advisors Inc grew its position in shares of Prologis by 8.7% during the 3rd quarter. IFP Advisors Inc now owns 4,816 shares of the real estate investment trust’s stock valued at $552,000 after acquiring an additional 384 shares during the period. Swiss Life Asset Management Ltd increased its stake in shares of Prologis by 19.6% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 172,836 shares of the real estate investment trust’s stock worth $19,793,000 after purchasing an additional 28,349 shares in the last quarter. Investment Research Partners LLC purchased a new stake in shares of Prologis in the 3rd quarter worth $415,000. Finally, Cambria Investment Management L.P. bought a new position in Prologis in the 3rd quarter worth $273,000. 93.50% of the stock is currently owned by institutional investors.

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.