Barclays Forecasts Strong Price Appreciation for Prologis (NYSE:PLD) Stock

Prologis (NYSE:PLD) had its price objective increased by investment analysts at Barclays from $131.00 to $132.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price indicates a potential upside of 16.42% from the company’s previous close.

A number of other brokerages have also recently commented on PLD. Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Morgan Stanley upped their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Bank of America reaffirmed a “neutral” rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Finally, Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.18.

Prologis Stock Down 0.0 %

PLD opened at $113.38 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average price of $121.34 and a 200-day moving average price of $118.16. Prologis has a twelve month low of $101.11 and a twelve month high of $137.52. The stock has a market capitalization of $105.01 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts forecast that Prologis will post 5.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prologis

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Coldstream Capital Management Inc. raised its stake in shares of Prologis by 4.2% in the third quarter. Coldstream Capital Management Inc. now owns 51,589 shares of the real estate investment trust’s stock valued at $6,502,000 after acquiring an additional 2,081 shares during the period. Geode Capital Management LLC increased its stake in Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after buying an additional 194,472 shares during the period. Prestige Wealth Management Group LLC increased its stake in Prologis by 1,595.5% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 12,445 shares of the real estate investment trust’s stock worth $1,572,000 after buying an additional 11,711 shares during the period. Brophy Wealth Management LLC purchased a new position in Prologis in the 3rd quarter worth about $354,000. Finally, Resources Management Corp CT ADV increased its stake in Prologis by 2.7% in the 3rd quarter. Resources Management Corp CT ADV now owns 29,600 shares of the real estate investment trust’s stock worth $3,738,000 after buying an additional 781 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.