Prologis (NYSE:PLD) Price Target Cut to $123.00

Prologis (NYSE:PLD) had its price objective decreased by research analysts at Evercore ISI from $136.00 to $123.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target suggests a potential upside of 17.43% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Barclays reduced their price target on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley upped their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Mizuho reissued a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Robert W. Baird increased their price objective on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Finally, Raymond James increased their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.40.

Prologis Price Performance

Shares of NYSE PLD traded down $1.75 on Thursday, hitting $104.74. The company’s stock had a trading volume of 2,451,267 shares, compared to its average volume of 3,342,124. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a market capitalization of $96.89 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 2.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a 50 day moving average of $128.99 and a 200-day moving average of $122.19.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the company earned $1.24 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts predict that Prologis will post 5.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. BOKF NA boosted its holdings in shares of Prologis by 3.8% in the 4th quarter. BOKF NA now owns 2,125 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 77 shares during the period. CreativeOne Wealth LLC boosted its holdings in shares of Prologis by 1.5% in the 2nd quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust’s stock valued at $680,000 after buying an additional 82 shares during the period. SevenOneSeven Capital Management boosted its holdings in shares of Prologis by 2.3% in the 4th quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust’s stock valued at $427,000 after buying an additional 86 shares during the period. Family Legacy Inc. boosted its holdings in shares of Prologis by 0.5% in the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock valued at $2,217,000 after buying an additional 87 shares during the period. Finally, Lockerman Financial Group Inc. boosted its holdings in shares of Prologis by 2.0% in the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 87 shares during the period. 93.50% of the stock is currently owned by institutional investors.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.