Evercore ISI Issues Positive Forecast for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLD) had its price target lifted by stock analysts at Evercore ISI from $116.00 to $118.00 in a research report issued on Monday,MarketScreener reports. Evercore ISI’s price objective would suggest a potential downside of 8.48% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Barclays lowered their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Mizuho lifted their target price on Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Wells Fargo & Company increased their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Scotiabank lifted their price target on shares of Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Finally, Truist Financial reissued a “buy” rating and set a $131.00 price objective (up from $120.00) on shares of Prologis in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $127.00.

Prologis Price Performance

Shares of NYSE PLD opened at $128.94 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average price is $126.36 and its two-hundred day moving average price is $115.79. Prologis has a twelve month low of $85.35 and a twelve month high of $131.70. The company has a market cap of $119.77 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 3.92 and a beta of 1.40.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm had revenue of $2.21 billion for the quarter. On average, analysts predict that Prologis will post 5.73 EPS for the current year.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the sale, the director directly owned 8,208 shares of the company’s stock, valued at $1,047,340.80. The trade was a 7.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 1,621 shares of company stock valued at $198,655. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Prologis by 0.3% during the third quarter. Vanguard Group Inc. now owns 122,064,883 shares of the real estate investment trust’s stock valued at $13,978,870,000 after acquiring an additional 323,551 shares during the period. State Street Corp boosted its holdings in shares of Prologis by 1.9% in the second quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock valued at $6,164,325,000 after purchasing an additional 1,088,544 shares during the period. Geode Capital Management LLC increased its stake in shares of Prologis by 1.4% during the second quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock valued at $2,345,922,000 after buying an additional 310,333 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Prologis by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock valued at $1,735,205,000 after purchasing an additional 253,338 shares in the last quarter. Finally, Norges Bank bought a new stake in Prologis during the 2nd quarter valued at $1,288,936,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.