Prologis (NYSE:PLD) Given New $165.00 Price Target at Morgan Stanley

Prologis (NYSE:PLD) had its target price upped by investment analysts at Morgan Stanley from $138.00 to $165.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target points to a potential upside of 9.69% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Prologis from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, August 18th. Truist Securities increased their target price on shares of Prologis from $123.00 to $137.00 and gave the stock a “buy” rating in a report on Saturday, July 31st. Raymond James increased their target price on shares of Prologis from $143.00 to $155.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 20th. The Goldman Sachs Group upgraded shares of Prologis from a “buy” rating to a “conviction-buy” rating and raised their price objective for the company from $166.00 to $180.00 in a report on Thursday, October 21st. Finally, Royal Bank of Canada raised their price objective on shares of Prologis from $144.00 to $164.00 and gave the company an “outperform” rating in a report on Monday, November 8th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $149.73.

Shares of PLD stock traded up $0.21 during trading hours on Monday, hitting $150.43. The company had a trading volume of 6,434 shares, compared to its average volume of 2,477,504. The stock has a market capitalization of $111.22 billion, a PE ratio of 56.57, a price-to-earnings-growth ratio of 4.58 and a beta of 0.78. Prologis has a fifty-two week low of $93.08 and a fifty-two week high of $151.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.41 and a quick ratio of 0.41. The company’s fifty day moving average is $138.18 and its 200 day moving average is $129.89.

Prologis (NYSE:PLD) last released its earnings results on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.06). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Prologis had a return on equity of 5.42% and a net margin of 42.95%. Prologis’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 earnings per share. Equities analysts forecast that Prologis will post 4.12 earnings per share for the current year.

In other Prologis news, Director William D. Zollars sold 1,380 shares of the firm’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $146.20, for a total transaction of $201,756.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Hamid R. Moghadam sold 14,355 shares of the firm’s stock in a transaction on Monday, October 25th. The stock was sold at an average price of $144.64, for a total transaction of $2,076,307.20. The disclosure for this sale can be found here. Insiders sold a total of 345,380 shares of company stock worth $49,569,018 over the last ninety days. Insiders own 0.87% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PLD. Marshall Wace LLP acquired a new stake in shares of Prologis in the 1st quarter worth $57,000. Blackstone Group Inc. lifted its stake in shares of Prologis by 638.1% in the first quarter. Blackstone Group Inc. now owns 2,384,814 shares of the real estate investment trust’s stock valued at $252,790,000 after purchasing an additional 2,061,714 shares during the period. Eaton Vance Management lifted its stake in shares of Prologis by 11.6% in the first quarter. Eaton Vance Management now owns 112,181 shares of the real estate investment trust’s stock valued at $11,891,000 after purchasing an additional 11,626 shares during the period. Visionary Wealth Advisors acquired a new stake in shares of Prologis in the first quarter valued at about $248,000. Finally, Kore Private Wealth LLC lifted its stake in shares of Prologis by 20.8% in the first quarter. Kore Private Wealth LLC now owns 3,469 shares of the real estate investment trust’s stock valued at $368,000 after purchasing an additional 598 shares during the period. Institutional investors own 92.23% of the company’s stock.

Prologis Company Profile

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

Featured Article: Insider Trading – What You Need to Know

Analyst Recommendations for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.