Wells Fargo & Company Increases Prologis (NYSE:PLD) Price Target to $184.00

Prologis (NYSE:PLDGet Rating) had its price target upped by research analysts at Wells Fargo & Company from $172.00 to $184.00 in a research note issued to investors on Thursday, The Fly reports. Wells Fargo & Company‘s target price points to a potential upside of 9.74% from the company’s previous close.

A number of other analysts have also recently commented on the stock. BTIG Research boosted their target price on shares of Prologis from $161.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, April 12th. The Goldman Sachs Group boosted their target price on shares of Prologis from $184.00 to $209.00 in a research note on Friday, January 21st. Barclays boosted their target price on shares of Prologis from $171.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, April 21st. Robert W. Baird boosted their target price on shares of Prologis from $152.00 to $175.00 in a research note on Wednesday, April 20th. Finally, Raymond James boosted their target price on shares of Prologis from $180.00 to $190.00 and gave the stock a “strong-buy” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $175.75.

PLD opened at $167.67 on Thursday. Prologis has a fifty-two week low of $112.00 and a fifty-two week high of $174.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.44 and a current ratio of 0.65. The company has a fifty day moving average of $157.74 and a two-hundred day moving average of $154.10. The stock has a market capitalization of $124.11 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 3.85 and a beta of 0.87.

Prologis (NYSE:PLDGet Rating) last released its quarterly earnings data on Tuesday, April 19th. The real estate investment trust reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.99. Prologis had a net margin of 77.08% and a return on equity of 9.98%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Prologis will post 5.14 earnings per share for the current year.

In other news, Director William D. Zollars sold 1,350 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $155.68, for a total value of $210,168.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Irving F. Lyons III sold 44,385 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $164.60, for a total transaction of $7,305,771.00. Following the completion of the transaction, the director now owns 22,431 shares in the company, valued at $3,692,142.60. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Perpetual Investment Management Ltd increased its stake in Prologis by 6.4% during the 3rd quarter. Perpetual Investment Management Ltd now owns 21,838 shares of the real estate investment trust’s stock worth $2,739,000 after buying an additional 1,307 shares during the period. Clark Capital Management Group Inc. increased its stake in Prologis by 24.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 308,031 shares of the real estate investment trust’s stock worth $38,636,000 after buying an additional 60,913 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Prologis by 7.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 120,618 shares of the real estate investment trust’s stock worth $20,307,000 after buying an additional 8,524 shares during the period. Destination Wealth Management purchased a new stake in Prologis during the 4th quarter worth approximately $536,000. Finally, Morgan Stanley increased its stake in Prologis by 6.3% during the 3rd quarter. Morgan Stanley now owns 7,053,712 shares of the real estate investment trust’s stock worth $884,750,000 after buying an additional 419,476 shares during the period. Hedge funds and other institutional investors own 92.93% of the company’s stock.

Prologis Company Profile (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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