Scotiabank Increases Prologis (NYSE:PLD) Price Target to $142.00

Prologis (NYSE:PLD - Get Free Report) had its price target raised by Scotiabank from $135.00 to $142.00 in a report released on Monday, Benzinga reports. The brokerage currently has a "sector outperform" rating on the real estate investment trust's stock. Scotiabank's price target would suggest a potential upside of 10.18% from the stock's previous close.

A number of other equities analysts have also weighed in on the company. The Goldman Sachs Group upped their price objective on Prologis from $140.00 to $156.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Truist Financial lifted their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Royal Bank of Canada lowered shares of Prologis from an "outperform" rating to a "sector perform" rating and upped their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Evercore ISI reduced their price target on shares of Prologis from $123.00 to $122.00 and set an "in-line" rating on the stock in a report on Tuesday, August 20th. Finally, Bank of America reissued a "neutral" rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average target price of $132.19.

Prologis Stock Performance

Prologis stock traded up $0.02 during midday trading on Monday, hitting $128.88. The stock had a trading volume of 2,278,649 shares, compared to its average volume of 3,658,372. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a market capitalization of $119.32 billion, a PE ratio of 37.68, a P/E/G ratio of 3.02 and a beta of 1.06. The firm's fifty day moving average is $119.59 and its two-hundred day moving average is $119.14.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm's revenue for the quarter was down 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.83 earnings per share. On average, research analysts forecast that Prologis will post 5.43 EPS for the current year.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Prologis

Several institutional investors and hedge funds have recently made changes to their positions in PLD. Atria Wealth Solutions Inc. grew its stake in Prologis by 33.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 17,486 shares of the real estate investment trust's stock worth $2,331,000 after acquiring an additional 4,345 shares in the last quarter. Headlands Technologies LLC bought a new position in Prologis in the fourth quarter worth approximately $45,000. Transcend Capital Advisors LLC increased its holdings in Prologis by 4.3% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,646 shares of the real estate investment trust's stock worth $619,000 after purchasing an additional 190 shares during the period. Legacy Capital Wealth Partners LLC bought a new stake in Prologis during the 4th quarter valued at $204,000. Finally, Fiduciary Group LLC lifted its holdings in shares of Prologis by 6.5% in the 4th quarter. Fiduciary Group LLC now owns 3,588 shares of the real estate investment trust's stock worth $478,000 after buying an additional 220 shares during the period. 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.