Prologis, Inc. (NYSE:PLD) Receives $120.33 Consensus Target Price from Brokerages

Shares of Prologis, Inc. (NYSE:PLD) have earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $121.0556.

A number of analysts have recently issued reports on PLD shares. Truist Financial dropped their price objective on shares of Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a report on Monday, May 5th. Scotiabank lifted their price target on Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research note on Monday, May 12th. Citigroup reduced their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Finally, Royal Bank Of Canada cut their target price 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.

Prologis Trading Down 1.8%

Shares of PLD opened at $108.2390 on Friday. Prologis has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The stock has a market cap of $100.47 billion, a PE ratio of 29.33, a P/E/G ratio of 2.76 and a beta of 1.21. The business’s 50-day moving average price is $107.11 and its 200-day moving average price is $108.88.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company posted $1.34 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, equities analysts forecast that Prologis will post 5.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Prologis

Several institutional investors and hedge funds have recently made changes to their positions in PLD. Vanguard Group Inc. boosted its position in Prologis by 0.3% during the second quarter. Vanguard Group Inc. now owns 121,741,332 shares of the real estate investment trust’s stock valued at $12,797,449,000 after buying an additional 401,922 shares during the period. State Street Corp boosted its holdings in Prologis by 1.9% during the 2nd 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 acquiring an additional 1,088,544 shares during the period. Geode Capital Management LLC boosted its holdings in Prologis by 1.4% during the 2nd 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 acquiring an additional 310,333 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Prologis by 1.6% in the second 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 during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares during the period. 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.