Prologis (NYSE:PLD) Price Target Raised to $180.00

Prologis (NYSE:PLD) had its price objective hoisted by stock analysts at Raymond James from $155.00 to $180.00 in a research note issued to investors on Monday, The Fly reports. The brokerage presently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ price target would suggest a potential upside of 17.65% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. The Goldman Sachs Group upgraded Prologis from a “buy” rating to a “conviction-buy” rating and increased their price objective for the stock from $166.00 to $180.00 in a report on Thursday, October 21st. Truist increased their target price on Prologis from $137.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, October 25th. They noted that the move was a valuation call. Wells Fargo & Company increased their target price on Prologis from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 19th. Royal Bank of Canada increased their target price on Prologis from $144.00 to $164.00 and gave the stock an “outperform” rating in a research note on Monday, November 8th. Finally, Barclays increased their target price on Prologis from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 19th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis has an average rating of “Buy” and a consensus target price of $152.07.

PLD opened at $152.99 on Monday. The stock has a fifty day simple moving average of $155.99 and a two-hundred day simple moving average of $139.90. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.47. The company has a market cap of $113.11 billion, a price-to-earnings ratio of 57.73, a price-to-earnings-growth ratio of 5.07 and a beta of 0.81. Prologis has a 12-month low of $93.08 and a 12-month high of $169.93.

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

In other news, CEO Hamid R. Moghadam sold 14,355 shares of the firm’s stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $144.64, for a total value of $2,076,307.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hamid R. Moghadam sold 305,645 shares of the firm’s stock in a transaction dated Friday, October 22nd. The stock was sold at an average price of $144.24, for a total value of $44,086,234.80. The disclosure for this sale can be found here. Insiders sold 323,335 shares of company stock worth $46,681,516 over the last three months. Insiders own 0.87% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of PLD. Marshall Wace LLP bought a new stake in Prologis during the 1st quarter valued at approximately $57,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Prologis by 12.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 136,767 shares of the real estate investment trust’s stock valued at $16,348,000 after purchasing an additional 15,566 shares during the period. Resources Investment Advisors LLC. bought a new stake in Prologis during the 2nd quarter valued at approximately $207,000. Centaurus Financial Inc. raised its stake in Prologis by 11.4% during the 2nd quarter. Centaurus Financial Inc. now owns 1,590 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 163 shares during the period. Finally, Rafferty Asset Management LLC raised its stake in Prologis by 51.1% during the 2nd quarter. Rafferty Asset Management LLC now owns 59,750 shares of the real estate investment trust’s stock valued at $7,142,000 after purchasing an additional 20,215 shares during the period. 92.23% of the stock is currently owned by institutional investors.

About Prologis

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.

Read More: Stock Symbols and CUSIP Explained

The Fly logo

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.