Evercore ISI Issues Pessimistic Forecast for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLD) had its price target cut by equities researchers at Evercore ISI from $111.00 to $106.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target indicates a potential upside of 4.03% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Robert W. Baird lifted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, BTIG Research lowered their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.32.

Prologis Stock Performance

Shares of PLD stock opened at $101.89 on Thursday. The firm has a fifty day moving average price of $111.44 and a 200 day moving average price of $113.26. The company has a market cap of $94.45 billion, a P/E ratio of 25.47, a PEG ratio of 2.70 and a beta of 1.20. Prologis has a 12 month low of $85.35 and a 12 month high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Sell-side analysts predict that Prologis will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Prologis

A number of hedge funds and other institutional investors have recently made changes to their positions in PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis in the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis during the 4th quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in Prologis in the fourth quarter worth about $30,000. REAP Financial Group LLC raised its holdings in shares of Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the 4th quarter valued at $34,000. Institutional investors own 93.50% of the company’s stock.

About Prologis

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.