Prologis (NYSE:PLD – Get Rating) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a report issued on Monday, The Fly reports. The brokerage currently has a $116.00 price target on the real estate investment trust’s stock, down from their prior price target of $137.00. Scotiabank’s price target suggests a potential upside of 16.55% from the stock’s previous close.
Other research analysts have also issued reports about the stock. BMO Capital Markets dropped their price target on shares of Prologis from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, September 27th. Wolfe Research upgraded shares of Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research report on Wednesday, August 24th. Raymond James lowered their target price on shares of Prologis from $190.00 to $160.00 in a research report on Thursday, July 21st. StockNews.com assumed coverage on shares of Prologis in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Citigroup assumed coverage on shares of Prologis in a research report on Monday, October 3rd. They set a “buy” rating and a $120.00 target price on the stock. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $151.53.
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Prologis Trading Down 2.9 %
Shares of Prologis stock opened at $99.53 on Monday. Prologis has a 52-week low of $98.03 and a 52-week high of $174.54. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.46. The company’s 50-day simple moving average is $118.95 and its 200-day simple moving average is $129.10. The firm has a market cap of $73.69 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 2.16 and a beta of 0.95.
Prologis (NYSE:PLD – Get Rating) last issued its quarterly earnings results on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.30). Prologis had a return on equity of 9.85% and a net margin of 75.72%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Prologis will post 5.12 earnings per share for the current year.
Hedge Funds Weigh In On Prologis
Several institutional investors and hedge funds have recently modified their holdings of PLD. American National Bank purchased a new position in shares of Prologis during the first quarter valued at approximately $26,000. MCF Advisors LLC purchased a new position in shares of Prologis during the first quarter valued at approximately $35,000. Financial Management Professionals Inc. lifted its stake in shares of Prologis by 43.8% during the first quarter. Financial Management Professionals Inc. now owns 220 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 67 shares during the period. Crewe Advisors LLC purchased a new position in shares of Prologis during the second quarter valued at approximately $37,000. Finally, Baystate Wealth Management LLC lifted its stake in shares of Prologis by 40.3% during the second quarter. Baystate Wealth Management LLC now owns 317 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.
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, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 984 million square feet (91 million square meters) in 19 countries.
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