Scotiabank Boosts Prologis (NYSE:PLD) Price Target to $135.00

Prologis (NYSE:PLD) had its price objective hoisted by Scotiabank from $130.00 to $135.00 in a report issued on Wednesday, Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

PLD has been the topic of several other reports. Robert W. Baird decreased their price objective on shares of Prologis from $137.00 to $117.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. cut their price target on Prologis from $143.00 to $128.00 and set an overweight rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group boosted their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a buy rating in a research note on Thursday, July 25th. Argus increased their price target on shares of Prologis from $120.00 to $135.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Finally, Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the stock a buy rating in a report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $132.60.

Prologis Stock Down 0.1 %

NYSE:PLD traded down $0.09 during trading hours on Wednesday, reaching $121.90. The company’s stock had a trading volume of 1,901,869 shares, compared to its average volume of 3,743,113. Prologis has a one year low of $96.64 and a one year high of $137.52. The business’s 50-day moving average is $116.51 and its 200-day moving average is $119.53. The company has a market cap of $112.86 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 earnings per share. Equities research analysts predict that Prologis will post 5.43 EPS for the current year.

Institutional Investors Weigh In On Prologis

Several hedge funds have recently bought and sold shares of PLD. Vanguard Group Inc. boosted its stake in Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC increased its stake in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 buying an additional 317,815 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after buying an additional 365,904 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Prologis by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after acquiring an additional 123,902 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.