Prologis (NYSE:PLD) Receives $149.00 Price Target From Evercore ISI Analysts
Prologis (NYSE: PLD – Get a Rating) received a price target of $149.00 from stock analysts Evercore ISI in a note released Monday to investors, Stock Target Advisor reports. Evercore ISI’s price target suggests a potential upside of 35.01% from the company’s current price.
A number of other stock analysts have also weighed in on PLD recently. Barclays raised its price target on Prologis shares from $171.00 to $190.00 and gave the stock an “overweight” rating in a Thursday, April 21 research note. Raymond James raised his price target on Prologis shares from $180.00 to $190.00 and gave the stock a “strong buy” rating in a Monday, April 25 research note. Truist Financial lowered its price target on Prologis shares from $166.00 to $162.00 and gave the stock an “na” rating in a Monday May 16 research note. Wells Fargo & Company lowered its price target on Prologis shares from $184.00 to $160.00 in a Monday, June 6 research note. Finally, Deutsche Bank Aktiengesellschaft raised its price target on Prologis shares from $179.00 to $184.00 and gave the stock a “buy” rating in a Friday, April 22 research note. Two equity research analysts gave the stock a hold rating, seven gave the company a buy rating and two gave the company a high buy rating. According to MarketBeat.com, Prologis currently has a consensus buy rating and a consensus price target of $174.75.
Shares of PLD traded down $1.43 at midday on Monday, hitting $110.36. The stock had a trading volume of 216,042 shares, compared to an average volume of 3,967,908. Prologis has a fifty-two week low of $106.46 and a fifty-two week high of $174.54 . The company has a market capitalization of $81.70 billion, a PE ratio of 22.12, a PEG ratio of 2.19 and a beta of 0.84. The company has a debt ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.59. The company’s 50-day simple moving average is $138.28 and its 200-day simple moving average is $149.52.
Prologis (NYSE:PLD – Get Rating) last released its results on Tuesday, April 19. The real estate investment trust reported EPS of $1.54 for the quarter, beating the consensus estimate of $0.55 by $0.99. Prologis achieved a net margin of 77.08% and a return on equity of 9.98%. The company posted revenue of $1.08 billion in the quarter, versus $1.09 billion expected by analysts. In the same quarter last year, the company achieved EPS of $0.97. The company’s revenue increased 5.4% year-over-year. On average, analysts expect Prologis to post an EPS of 5.15 for the current year.
In other Prologis news, Director Irving F. Lyons III sold 44,385 shares of the company in a trade dated Monday, April 25. The shares were sold at an average price of $164.60, for a total value of $7,305,771.00. As a result of the transaction, the administrator now directly owns 22,431 shares of the company, valued at approximately $3,692,142.60. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, director Avid Modjtabai acquired 15,000 shares of the company in a transaction dated Friday, May 20. The shares were purchased at an average price of $118.65 per share, for a total transaction of $1,779,750.00. Following the completion of the acquisition, the administrator now owns 15,000 shares of the company, valued at $1,779,750. Disclosure of this purchase can be found here. 0.70% of the shares are currently held by insiders.
Several hedge funds have recently changed their positions in PLD. Marshall Wace LLP bought a new position in shares of Prologis during Q1 for a value of approximately $57,000. Morgan Stanley increased its position in Prologis by 30.6% in the second quarter. Morgan Stanley now owns 6,634,236 shares of the real estate investment trust worth $792,990,000 after buying an additional 1,552,532 shares last quarter. LPL Financial LLC increased its position in Prologis by 9.7% during the 3rd quarter. LPL Financial LLC now owns 253,483 shares of the real estate investment trust worth $31,794,000 after purchasing an additional 22,391 shares in the last quarter. Squarepoint Ops LLC increased its position in Prologis by 35,701.1% during the 3rd quarter. Squarepoint Ops LLC now owns 64,442 shares of the real estate investment trust worth $8,083,000 after purchasing an additional 64,262 shares in the last quarter. Finally, National Asset Management Inc. increased its position in Prologis by 14.5% during the third quarter. National Asset Management Inc. now owns 17,010 shares of the real estate investment trust worth $2,124,000 after buying 2,156 additional shares in the last quarter. Institutional investors and hedge funds hold 93.53% of the company’s shares.
About Prologis (Get a 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, wholly owned or through co-investments, properties and development projects expected to total approximately 984 million square feet (91 million square meters) in 19 countries.
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