Prologis (NYSE:PLD) Given New $128.00 Price Target at Wolfe Research

Prologis (NYSE:PLD) had its price target dropped by stock analysts at Wolfe Research from $135.00 to $128.00 in a research note issued to investors on Friday. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wolfe Research’s price objective points to a potential upside of 16.43% from the company’s current price.

Several other equities analysts also recently weighed in on PLD. Scotiabank lowered their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Raymond James reaffirmed an “outperform” rating and issued a $125.00 price objective (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. Barclays upped their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $124.00 to $123.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.67.

Prologis Stock Performance

PLD stock traded down $0.99 during trading on Friday, reaching $109.94. The stock had a trading volume of 3,021,620 shares, compared to its average volume of 4,381,089. The stock’s 50 day moving average is $110.53 and its two-hundred day moving average is $118.36. The firm has a market cap of $101.82 billion, a PE ratio of 33.24, a PEG ratio of 2.85 and a beta of 1.09. Prologis has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last released its quarterly earnings results 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 return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that Prologis will post 5.45 earnings per share for the current year.

Hedge Funds Weigh In On Prologis

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ASB Consultores LLC raised its holdings in shares of Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares in the last quarter. CX Institutional increased its position in Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 88 shares during the period. DT Investment Partners LLC increased its position in Prologis by 9.8% during the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 93 shares during the period. Carmel Capital Partners LLC raised its holdings in shares of Prologis by 2.6% in the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares in the last quarter. Finally, Yoder Wealth Management Inc. lifted its position in shares of Prologis by 4.0% in the 3rd quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock worth $316,000 after purchasing an additional 97 shares during the period. 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.