Wells Fargo & Company Raises Prologis (NYSE:PLD) Price Target to $175.00

Prologis (NYSE:PLD) had its price objective upped by investment analysts at Wells Fargo & Company from $160.00 to $175.00 in a research report issued to clients and investors on Friday, Analyst Ratings Network reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 16.50% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Truist Securities boosted their price target on shares of Prologis from $123.00 to $137.00 and gave the stock a “buy” rating in a research note on Saturday, July 31st. The Goldman Sachs Group upgraded shares of Prologis from a “buy” rating to a “conviction-buy” rating and boosted their price target for the stock from $166.00 to $180.00 in a research note on Thursday, October 21st. BTIG Research boosted their price target on shares of Prologis from $146.00 to $161.00 and gave the stock a “buy” rating in a research note on Wednesday, October 20th. Royal Bank of Canada upped their target price on shares of Prologis from $144.00 to $164.00 and gave the stock an “outperform” rating in a research report on Monday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Prologis from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, August 18th. Two equities research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $147.47.

NYSE PLD opened at $150.22 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market cap of $111.06 billion, a PE ratio of 56.69, a P/E/G ratio of 4.58 and a beta of 0.78. Prologis has a one year low of $93.08 and a one year high of $151.72. The firm’s fifty day moving average is $138.18 and its two-hundred day moving average is $129.77.

Prologis (NYSE:PLD) last issued its quarterly earnings results 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). Prologis had a return on equity of 5.42% and a net margin of 42.95%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. Research analysts predict that Prologis will post 4.12 earnings per share for the current year.

In related news, CEO Hamid R. Moghadam sold 14,355 shares of the company’s stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $144.64, for a total transaction of $2,076,307.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Hamid R. Moghadam sold 305,645 shares of the company’s stock in a transaction that occurred on Friday, October 22nd. The shares were sold at an average price of $144.24, for a total transaction of $44,086,234.80. The disclosure for this sale can be found here. Insiders sold 345,380 shares of company stock worth $49,569,018 in the last ninety days. Insiders own 0.87% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. MV Capital Management Inc. grew its holdings in Prologis by 64.8% during the 3rd quarter. MV Capital Management Inc. now owns 201 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Prologis during the 2nd quarter valued at $26,000. Financial Management Professionals Inc. grew its holdings in Prologis by 147.7% during the 3rd quarter. Financial Management Professionals Inc. now owns 218 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 130 shares in the last quarter. Strategic Blueprint LLC acquired a new stake in Prologis during the 2nd quarter valued at $30,000. Finally, Benjamin Edwards Inc. acquired a new stake in Prologis during the 3rd quarter valued at $33,000. 92.23% of the stock is 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.

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Analyst Recommendations for Prologis (NYSE:PLD)

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