Prologis, Inc. (NYSE:PLD) Receives Average Rating of "Moderate Buy" from Brokerages

Prologis, Inc. (NYSE:PLD - Get Free Report) has received an average recommendation of "Moderate Buy" from the seventeen analysts that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $133.12.

A number of brokerages have issued reports on PLD. Morgan Stanley upped their target price on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Evercore ISI lifted their target price on shares of Prologis from $122.00 to $124.00 and gave the company an "in-line" rating in a research report on Wednesday. BMO Capital Markets reissued a "market perform" rating and issued a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Finally, Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a report on Wednesday.

Prologis Stock Up 1.9 %

Shares of Prologis stock traded up $2.40 during trading on Friday, hitting $127.73. 3,618,011 shares of the stock traded hands, compared to its average volume of 3,634,252. The company has a fifty day moving average price of $120.63 and a two-hundred day moving average price of $119.21. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market cap of $118.26 billion, a P/E ratio of 37.37, a PEG ratio of 3.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36.

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

Insiders Place Their Bets

In other 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 sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Prologis

A number of hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in shares of Prologis in the 4th quarter valued at $45,000. Gilbert & Cook Inc. increased its position in Prologis by 4.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust's stock worth $731,000 after purchasing an additional 233 shares in the last quarter. Choreo LLC bought a new position in Prologis in the 4th quarter valued at approximately $231,000. Certuity LLC bought a new position in Prologis during the fourth quarter worth $342,000. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in Prologis by 4.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 3,619 shares of the real estate investment trust's stock worth $482,000 after purchasing an additional 157 shares during the period. 93.50% of the stock is 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.