Barclays Raises Prologis (NYSE:PLD) Price Target to $190.00

Prologis (NYSE:PLD – Get Rating) had its price objective raised by research analysts at Barclays from $171.00 to $190.00 in a research note issued on Thursday, The Fly reports. Barclays‘s price objective indicates a potential upside of 10.04% from the company’s current price.

Several other equities analysts have also recently issued reports on PLD. Robert W. Baird boosted their price objective on Prologis from $152.00 to $175.00 in a report on Wednesday. Royal Bank of Canada boosted their price objective on Prologis from $164.00 to $170.00 in a report on Monday, January 24th. Wells Fargo & Company decreased their price objective on Prologis from $175.00 to $172.00 and set an “overweight” rating for the company in a report on Tuesday, March 15th. Raymond James boosted their price objective on Prologis from $155.00 to $180.00 and gave the company a “strong-buy” rating in a report on Monday, January 10th. Finally, The Goldman Sachs Group boosted their price objective on Prologis from $184.00 to $209.00 in a report on Friday, January 21st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $169.54.

Prologis stock opened at $172.67 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. The business’s 50-day simple moving average is $155.43 and its two-hundred day simple moving average is $152.70. The company has a market cap of $127.81 billion, a PE ratio of 43.82, a PEG ratio of 3.72 and a beta of 0.87. Prologis has a fifty-two week low of $112.00 and a fifty-two week high of $174.09.

Prologis (NYSE:PLD – Get Rating) last posted its quarterly earnings results on Tuesday, April 19th. The real estate investment trust reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.99. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Prologis had a return on equity of 7.99% and a net margin of 61.77%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 EPS. As a group, analysts predict that Prologis will post 5.06 EPS for the current fiscal year.

In other Prologis news, Director William D. Zollars sold 1,350 shares of the business’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $155.68, for a total transaction of $210,168.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Highland Capital Management LLC increased its stake in Prologis by 0.3% during the 1st quarter. Highland Capital Management LLC now owns 18,103 shares of the real estate investment trust’s stock worth $2,923,000 after buying an additional 60 shares in the last quarter. Gateway Investment Advisers LLC grew its position in shares of Prologis by 1.1% in the first quarter. Gateway Investment Advisers LLC now owns 5,780 shares of the real estate investment trust’s stock valued at $933,000 after purchasing an additional 62 shares in the last quarter. Bedel Financial Consulting Inc. grew its position in shares of Prologis by 5.4% in the fourth quarter. Bedel Financial Consulting Inc. now owns 1,310 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 67 shares in the last quarter. TFC Financial Management grew its position in shares of Prologis by 16.7% in the fourth quarter. TFC Financial Management now owns 469 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 67 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its position in shares of Prologis by 0.5% in the third quarter. EP Wealth Advisors LLC now owns 14,343 shares of the real estate investment trust’s stock valued at $1,799,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 92.93% of the company’s stock.

About Prologis (Get Rating)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

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