Prologis (NYSE:PLD) Rating Reiterated by The Goldman Sachs Group

Prologis (NYSE:PLD)‘s stock had its “neutral” rating reissued by equities research analysts at The Goldman Sachs Group in a report released on Monday, Marketbeat Ratings reports. They currently have a $132.00 price target on the real estate investment trust’s stock, down from their prior price target of $142.00. The Goldman Sachs Group’s target price suggests a potential upside of 10.98% from the company’s previous close.

PLD has been the topic of a number of other research reports. Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Morgan Stanley lifted their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Scotiabank upped their price objective on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, Barclays decreased their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.47.

Prologis Price Performance

Shares of NYSE PLD opened at $118.94 on Monday. The firm has a 50-day simple moving average of $125.31 and a 200-day simple moving average of $117.51. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $110.12 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that Prologis will post 5.42 earnings per share for the current fiscal year.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Prologis

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after acquiring an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Prologis by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after purchasing an additional 317,815 shares during the period. Principal Financial Group Inc. raised its position in Prologis by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after purchasing an additional 167,131 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its position in Prologis by 5.7% in the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after purchasing an additional 367,565 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.