Prologis (NYSE:PLD) PT Raised to $121.00

Prologis (NYSE:PLDGet Rating) had its target price raised by Evercore ISI to $121.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. Evercore ISI’s target price would suggest a potential upside of 6.47% from the company’s previous close.

PLD has been the topic of a number of other research reports. Citigroup began coverage on Prologis in a research note on Monday, October 3rd. They set a “buy” rating and a $120.00 price objective on the stock. Raymond James cut their price target on Prologis from $160.00 to $130.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, October 18th. Wells Fargo & Company cut their price target on Prologis from $163.00 to $127.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 18th. Scotiabank upgraded Prologis from a “sector perform” rating to a “sector outperform” rating and cut their price target for the stock from $137.00 to $116.00 in a research note on Monday, October 17th. Finally, Bank of America began coverage on Prologis in a research note on Monday, October 24th. They issued a “buy” rating and a $140.00 price target on the stock. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $144.94.

Prologis Price Performance

Shares of Prologis stock opened at $113.65 on Tuesday. Prologis has a twelve month low of $98.03 and a twelve month high of $174.54. The stock has a market capitalization of $104.91 billion, a P/E ratio of 21.09, a PEG ratio of 2.47 and a beta of 0.95. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average price is $109.06 and its 200 day moving average price is $120.10.

Prologis (NYSE:PLDGet Rating) last issued its earnings results on Wednesday, October 19th. The real estate investment trust reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.31). Prologis had a net margin of 73.21% and a return on equity of 10.43%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the business posted $1.04 EPS. Prologis’s revenue was up 10.9% compared to the same quarter last year. As a group, research analysts anticipate that Prologis will post 5.13 earnings per share for the current year.

Hedge Funds Weigh In On Prologis

Several institutional investors have recently made changes to their positions in PLD. MCF Advisors LLC bought a new position in Prologis in the 1st quarter worth approximately $35,000. HHM Wealth Advisors LLC grew its holdings in Prologis by 115.3% in the 3rd quarter. HHM Wealth Advisors LLC now owns 351 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 188 shares in the last quarter. Crewe Advisors LLC bought a new position in Prologis in the 2nd quarter worth approximately $37,000. Baystate Wealth Management LLC grew its holdings in Prologis by 40.3% in the 2nd quarter. Baystate Wealth Management LLC now owns 317 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 91 shares in the last quarter. Finally, MV Capital Management Inc. grew its holdings in Prologis by 98.9% in the 3rd quarter. MV Capital Management Inc. now owns 360 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 179 shares in the last quarter. 94.01% of the stock is owned by institutional investors.

About Prologis

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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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