Prologis (NYSE:PLD) Stock Price Expected to Rise, Evercore ISI Analyst Says

Prologis (NYSE:PLD) had its target price upped by stock analysts at Evercore ISI from $116.00 to $118.00 in a report released on Monday,MarketScreener reports. Evercore ISI’s price target would suggest a potential downside of 8.48% from the company’s previous close.

A number of other equities analysts also recently commented on the company. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a research report on Monday, October 20th. Mizuho upped their price objective on shares of Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Truist Financial reissued a “buy” rating and set a $131.00 price objective (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. Wells Fargo & Company raised their price target on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Prologis in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.00.

Prologis Price Performance

Shares of NYSE PLD opened at $128.94 on Monday. The firm has a market cap of $119.77 billion, a PE ratio of 37.59, a PEG ratio of 3.92 and a beta of 1.40. The firm has a fifty day moving average of $126.36 and a 200 day moving average of $115.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64. Prologis has a one year low of $85.35 and a one year high of $131.70.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. The firm had revenue of $2.21 billion during the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. As a group, research analysts predict that Prologis will post 5.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares in the company, valued at $1,047,340.80. The trade was a 7.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,621 shares of company stock worth $198,655 in the last ninety days. 0.57% of the stock is currently owned by company insiders.

Institutional Trading of Prologis

Several institutional investors have recently modified their holdings of PLD. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Prologis by 0.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 16,583 shares of the real estate investment trust’s stock worth $1,941,000 after acquiring an additional 82 shares during the period. Foster Dykema Cabot & Partners LLC increased its stake in shares of Prologis by 1.0% during the 3rd quarter. Foster Dykema Cabot & Partners LLC now owns 8,232 shares of the real estate investment trust’s stock worth $943,000 after purchasing an additional 83 shares during the last quarter. Cornerstone Advisory LLC raised its stake in Prologis by 2.4% in the third quarter. Cornerstone Advisory LLC now owns 3,535 shares of the real estate investment trust’s stock valued at $405,000 after buying an additional 84 shares during the period. Cadence Bank lifted its holdings in Prologis by 2.1% during the 3rd quarter. Cadence Bank now owns 4,209 shares of the real estate investment trust’s stock valued at $482,000 after purchasing an additional 87 shares during the last quarter. Finally, Clear Investment Research LLC boosted its holdings in shares of Prologis by 34.5% during the 3rd quarter. Clear Investment Research LLC now owns 343 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.