Prologis (NYSE:PLD) Price Target Cut to $131.00

Prologis (NYSE:PLD) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $138.00 to $131.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.14% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Truist Financial raised their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Evercore ISI boosted their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Barclays lowered their price objective on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.47.

Prologis Trading Up 1.0 %

NYSE:PLD opened at $118.94 on Monday. The stock has a market cap of $110.12 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 3.05 and a beta of 1.07. 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 company’s 50 day moving average price is $125.31 and its 200-day moving average price is $117.51. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last posted its earnings results 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 return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the business posted $1.30 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that Prologis will post 5.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The shares were 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 owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

Institutional Trading of Prologis

A number of large investors have recently added to or reduced their stakes in the company. American Capital Advisory LLC purchased a new position in shares of Prologis in the second quarter valued at $26,000. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis in the 2nd quarter worth about $27,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis during the 2nd quarter valued at about $29,000. Sunbelt Securities Inc. lifted its holdings in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis in the second quarter worth about $31,000. Institutional investors own 93.50% of the company’s stock.

Prologis Company Profile

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.