Prologis (NYSE:PLD) PT Lowered to $160.00 at Wells Fargo & Company

Prologis (NYSE:PLDGet Rating) had its price target lowered by analysts at Wells Fargo & Company from $184.00 to $160.00 in a research report issued to clients and investors on Monday, The Fly reports. Wells Fargo & Company‘s price objective would suggest a potential upside of 25.41% from the stock’s previous close.

Several other research analysts have also commented on the company. StockNews.com lowered Prologis from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Barclays boosted their target price on Prologis from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, April 21st. Raymond James boosted their target price on Prologis from $180.00 to $190.00 and gave the company a “strong-buy” rating in a research report on Monday, April 25th. Truist Financial dropped their target price on Prologis from $166.00 to $162.00 and set a “na” rating for the company in a research report on Monday, May 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Prologis from $179.00 to $184.00 and gave the company a “buy” rating in a research report on Friday, April 22nd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Prologis has an average rating of “Buy” and an average price target of $173.42.

Shares of Prologis stock opened at $127.58 on Monday. The firm has a market cap of $94.44 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 2.53 and a beta of 0.84. The business has a 50-day moving average price of $147.80 and a 200-day moving average price of $151.94. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. Prologis has a twelve month low of $116.37 and a twelve month high of $174.54.

Prologis (NYSE:PLDGet Rating) last released its quarterly earnings results on Tuesday, April 19th. The real estate investment trust reported $1.54 EPS for the quarter, topping the consensus estimate of $0.55 by $0.99. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Prologis had a return on equity of 9.98% and a net margin of 77.08%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.97 earnings per share. On average, equities analysts expect that Prologis will post 5.15 EPS for the current fiscal year.

In related news, Director Irving F. Lyons III sold 44,385 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $164.60, for a total value of $7,305,771.00. Following the completion of the transaction, the director now owns 22,431 shares of the company’s stock, valued at $3,692,142.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Prologis by 24.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 158,122 shares of the real estate investment trust’s stock valued at $25,533,000 after buying an additional 31,342 shares during the last quarter. Midwest Wealth Management Inc. grew its holdings in shares of Prologis by 3.9% during the first quarter. Midwest Wealth Management Inc. now owns 13,331 shares of the real estate investment trust’s stock valued at $2,153,000 after buying an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Prologis by 10.3% during the first quarter. EverSource Wealth Advisors LLC now owns 1,538 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 144 shares during the last quarter. Phocas Financial Corp. grew its holdings in shares of Prologis by 0.4% during the first quarter. Phocas Financial Corp. now owns 32,087 shares of the real estate investment trust’s stock valued at $5,181,000 after buying an additional 118 shares during the last quarter. Finally, M Holdings Securities Inc. purchased a new stake in shares of Prologis during the first quarter valued at $1,588,000. 93.53% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Articles

The Fly logo

Analyst Recommendations for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.