Prologis (NYSE:PLD) Given a $149.00 Price Target by Evercore ISI Analysts

Prologis (NYSE:PLD – Get Rating) received a $149.00 price objective from stock analysts at Evercore ISI in a note issued to investors on Monday, 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 equities analysts have also recently weighed in on PLD. Barclays upped their price target on shares of Prologis from $171.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, April 21st. Raymond James upped their price target on shares of Prologis from $180.00 to $190.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 25th. Truist Financial lowered their price target on shares of Prologis from $166.00 to $162.00 and set a “na” rating on the stock in a research note on Monday, May 16th. Wells Fargo & Company lowered their price target on shares of Prologis from $184.00 to $160.00 in a research note on Monday, June 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Prologis from $179.00 to $184.00 and gave the stock a “buy” rating in a research note on Friday, April 22nd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis currently has a consensus rating of “Buy” and a consensus price target of $174.75.

Shares of PLD stock traded down $1.43 during mid-day trading on Monday, hitting $110.36. The stock had a trading volume of 216,042 shares, compared to its 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 firm has a market cap 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-to-equity 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 earnings results on Tuesday, April 19th. The real estate investment trust reported $1.54 EPS for the quarter, topping the consensus estimate of $0.55 by $0.99. Prologis had a net margin of 77.08% and a return on equity of 9.98%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business earned $0.97 EPS. The business’s revenue was up 5.4% on a year-over-year basis. On average, analysts expect that Prologis will post 5.15 EPS for the current year.

In other Prologis news, Director Irving F. Lyons III sold 44,385 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $164.60, for a total value of $7,305,771.00. Following the transaction, the director now directly owns 22,431 shares in the company, valued at approximately $3,692,142.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Avid Modjtabai acquired 15,000 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were bought 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 director now owns 15,000 shares in the company, valued at $1,779,750. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in PLD. Marshall Wace LLP purchased a new position in shares of Prologis during the 1st quarter worth about $57,000. Morgan Stanley increased its position in Prologis by 30.6% during the 2nd quarter. Morgan Stanley now owns 6,634,236 shares of the real estate investment trust’s stock worth $792,990,000 after purchasing an additional 1,552,532 shares in the 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’s stock 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’s stock 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 3rd quarter. National Asset Management Inc. now owns 17,010 shares of the real estate investment trust’s stock worth $2,124,000 after purchasing an additional 2,156 shares in the last quarter. Institutional investors and hedge funds own 93.53% of the company’s stock.

About Prologis (Get 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, 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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