Barclays Forecasts Strong Price Appreciation for Prologis (NYSE:PLD) Stock

Prologis (NYSE:PLD) had its price target hoisted by equities research analysts at Barclays from $131.00 to $132.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price suggests a potential upside of 14.65% from the company’s previous close.

A number of other brokerages also recently commented on PLD. Scotiabank reduced their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Argus lifted their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Bank of America reissued a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Morgan Stanley lifted their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.18.

Prologis Stock Up 0.4 %

Shares of NYSE:PLD opened at $115.13 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day simple moving average of $120.69 and a two-hundred day simple moving average of $118.30. Prologis has a 1 year low of $101.11 and a 1 year high of $137.52. The firm has a market capitalization of $106.63 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. On average, equities analysts predict that Prologis will post 5.45 EPS for the current year.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Prologis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its stake in shares of Prologis by 36.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 72,817 shares of the real estate investment trust’s stock worth $9,482,000 after purchasing an additional 19,450 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Prologis by 23.5% during the first quarter. Lake Street Advisors Group LLC now owns 8,944 shares of the real estate investment trust’s stock worth $1,165,000 after purchasing an additional 1,700 shares during the last quarter. Pitcairn Co. lifted its position in Prologis by 29.2% during the first quarter. Pitcairn Co. now owns 11,660 shares of the real estate investment trust’s stock valued at $1,518,000 after purchasing an additional 2,632 shares during the period. Natixis Investment Managers International boosted its holdings in Prologis by 44.6% in the first quarter. Natixis Investment Managers International now owns 214,905 shares of the real estate investment trust’s stock valued at $27,985,000 after purchasing an additional 66,250 shares during the last quarter. Finally, Castle Hook Partners LP acquired a new stake in Prologis during the 1st quarter worth about $56,863,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Company Profile

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.