Prologis (NYSE:PLD) Stock Rating Reaffirmed by Bank of America

Bank of America restated their neutral rating on shares of Prologis (NYSE:PLD) in a research report report published on Monday morning, MarketBeat.com reports. The firm currently has a $128.00 target price on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on PLD. Argus upped their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price target on shares of Prologis from $143.00 to $128.00 and set an overweight rating for the company in a research note on Thursday, April 25th. Scotiabank upped their target price on shares of Prologis from $130.00 to $135.00 and gave the stock a sector outperform rating in a research note on Wednesday, August 7th. UBS Group decreased their price target on shares of Prologis from $151.00 to $138.00 and set a buy rating for the company in a research note on Thursday, April 18th. Finally, Robert W. Baird lowered their price target on shares of Prologis from $137.00 to $117.00 and set a neutral rating for the company in a report on Wednesday, May 1st. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has a consensus rating of Moderate Buy and an average price target of $131.81.

Prologis Stock Up 1.1 %

PLD opened at $124.78 on Monday. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36. The stock has a market capitalization of $115.53 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 3.02 and a beta of 1.06. The company has a fifty day moving average of $117.63 and a two-hundred day moving average of $119.43.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business posted $1.83 EPS. Prologis’s revenue was down 18.1% compared to the same quarter last year. On average, research analysts expect that Prologis will post 5.43 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Prologis by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after acquiring an additional 317,815 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Prologis by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after purchasing an additional 365,904 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Prologis by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after buying an additional 123,902 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other 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.