Prologis, Inc. (NYSE:PLD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Prologis, Inc. (NYSE:PLD) has been assigned an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, ten have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $120.3333.

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada reduced their price objective on Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Truist Financial reduced their price objective on Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, UBS Group raised their price objective on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PLD. Brighton Jones LLC grew its stake in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after buying an additional 15,078 shares during the last quarter. CreativeOne Wealth LLC grew its stake in shares of Prologis by 1.7% in the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock worth $642,000 after purchasing an additional 100 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of Prologis by 185.6% in the fourth quarter. Bridgewater Associates LP now owns 7,642 shares of the real estate investment trust’s stock worth $808,000 after purchasing an additional 4,966 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Prologis by 9.5% in the fourth quarter. Marshall Wace LLP now owns 738,572 shares of the real estate investment trust’s stock worth $78,067,000 after purchasing an additional 63,777 shares in the last quarter. Finally, MSH Capital Advisors LLC bought a new position in shares of Prologis in the fourth quarter worth $636,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

Shares of PLD opened at $105.99 on Friday. The business’s 50 day moving average is $107.18 and its two-hundred day moving average is $109.27. Prologis has a 52-week low of $85.35 and a 52-week high of $132.57. The firm has a market cap of $98.37 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.66 and a beta of 1.21. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company posted $1.34 EPS. Prologis’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts forecast that Prologis will post 5.73 EPS for the current fiscal year.

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.