Prologis’ (PLD) “Buy” Rating Reiterated at Stifel Nicolaus

Prologis (NYSE:PLD)‘s stock had its “buy” rating reaffirmed by stock analysts at Stifel Nicolaus in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $130.00 price objective on the real estate investment trust’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 17.49% from the stock’s current price.

Several other analysts have also commented on the company. Mizuho reaffirmed a “buy” rating and issued a $140.00 price target on shares of Prologis in a research note on Wednesday, September 13th. Barclays lowered their target price on Prologis from $159.00 to $153.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Truist Financial reduced their price target on shares of Prologis from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. Evercore ISI lowered their price objective on shares of Prologis from $132.00 to $125.00 in a research report on Monday, October 9th. Finally, Raymond James reduced their price objective on Prologis from $145.00 to $130.00 and set a “strong-buy” rating on the stock in a report on Monday, October 23rd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $139.00.

Prologis Price Performance

PLD traded down $0.35 during trading on Tuesday, reaching $110.65. The stock had a trading volume of 1,540,905 shares, compared to its average volume of 2,981,630. Prologis has a 1-year low of $96.64 and a 1-year high of $136.67. The firm has a market capitalization of $102.24 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $109.09 and a two-hundred day moving average of $118.40.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, October 17th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.72 billion. Prologis had a net margin of 38.24% and a return on equity of 5.21%. Prologis’s revenue was up 53.8% compared to the same quarter last year. During the same period last year, the business posted $1.73 EPS. As a group, equities analysts anticipate that Prologis will post 5.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLD. Sageworth Trust Co acquired a new stake in shares of Prologis in the 1st quarter valued at about $26,000. VitalStone Financial LLC bought a new stake in shares of Prologis in the second quarter worth $27,000. DHJJ Financial Advisors Ltd. acquired a new position in Prologis during the third quarter worth $29,000. FinTrust Capital Advisors LLC grew its position in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Prologis in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 90.90% of the company’s stock.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At September 30, 2023, 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 (114 million square meters) in 19 countries.