Prologis (NYSE:PLD) Price Target Raised to $190.00

Prologis (NYSE:PLDGet Rating) had its price target increased by stock analysts at Barclays from $171.00 to $190.00 in a note issued to investors on Thursday, The Fly 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 12.61% from the company’s current price.

Several other analysts have also recently issued reports on PLD. Wells Fargo & Company dropped their price objective on shares of Prologis from $175.00 to $172.00 and set an “overweight” rating for the company in a research note on Tuesday, March 15th. StockNews.com cut shares of Prologis from a “buy” rating to a “hold” rating in a research note on Wednesday. BTIG Research increased their price target on shares of Prologis from $161.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, April 12th. Raymond James increased their price target on shares of Prologis from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research note on Monday, January 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Prologis from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Thursday, March 31st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Prologis currently has a consensus rating of “Buy” and a consensus price target of $173.92.

Shares of NYSE PLD opened at $168.73 on Thursday. Prologis has a 12-month low of $112.00 and a 12-month high of $174.54. The stock has a market cap of $124.89 billion, a PE ratio of 42.82, a P/E/G ratio of 3.72 and a beta of 0.87. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $156.38 and a 200 day moving average of $153.30.

Prologis (NYSE:PLDGet Rating) last announced its quarterly earnings data on Tuesday, April 19th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.99. Prologis had a net margin of 61.77% and a return on equity of 7.99%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the company earned $0.97 EPS. Prologis’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Prologis will post 5.06 EPS for the current fiscal year.

In other news, Director William D. Zollars sold 1,350 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $155.68, for a total value of $210,168.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Highland Capital Management LLC lifted its holdings in Prologis by 0.3% during the 1st quarter. Highland Capital Management LLC now owns 18,103 shares of the real estate investment trust’s stock worth $2,923,000 after buying an additional 60 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in Prologis by 1.1% during the 1st quarter. Gateway Investment Advisers LLC now owns 5,780 shares of the real estate investment trust’s stock worth $933,000 after buying an additional 62 shares in the last quarter. Bedel Financial Consulting Inc. lifted its holdings in Prologis by 5.4% during the 4th quarter. Bedel Financial Consulting Inc. now owns 1,310 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 67 shares in the last quarter. TFC Financial Management lifted its holdings in Prologis by 16.7% during the 4th quarter. TFC Financial Management now owns 469 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 67 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in Prologis by 0.5% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,343 shares of the real estate investment trust’s stock worth $1,799,000 after buying an additional 69 shares in the last quarter. Institutional investors own 92.93% of the company’s stock.

About Prologis (Get Rating)

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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