Prologis (NYSE:PLD) PT Lowered to $122.00 at Evercore ISI

Prologis (NYSE:PLD) had its price objective lowered by equities researchers at Evercore ISI from $123.00 to $122.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would suggest a potential downside of 1.99% from the stock’s current price.

A number of other analysts have also recently issued reports on PLD. Mizuho reduced their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Barclays lifted their price objective on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Argus lifted their price objective on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Truist Financial lifted their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $131.75.

Prologis Stock Performance

Shares of NYSE PLD opened at $124.48 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $115.25 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 3.02 and a beta of 1.06. The stock’s fifty day simple moving average is $118.64 and its 200 day simple moving average is $119.25. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s quarterly revenue was down 18.1% on a year-over-year basis. During the same period last year, the business earned $1.83 EPS. As a group, sell-side analysts forecast that Prologis will post 5.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prologis

A number of institutional investors have recently made changes to their positions in PLD. Optimum Investment Advisors bought a new position in shares of Prologis in the first quarter worth about $26,000. American Capital Advisory LLC bought a new position in shares of Prologis in the second quarter worth about $26,000. True Wealth Design LLC bought a new position in shares of Prologis in the fourth quarter worth about $27,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis in the second quarter worth about $27,000. Finally, Central Valley Advisors LLC bought a new position in shares of Prologis in the second quarter worth about $29,000. 93.50% of the stock is currently owned by institutional investors.

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.