Truist Financial Has Lowered Expectations for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLDGet Free Report) had its price target dropped by analysts at Truist Financial from $132.00 to $121.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price would suggest a potential upside of 10.49% from the company’s current price.

Several other research firms have also issued reports on PLD. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. Mizuho cut their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Scotiabank cut their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average target price of $128.67.

Get Our Latest Stock Analysis on Prologis

Prologis Price Performance

PLD opened at $109.51 on Friday. The stock’s 50-day moving average price is $110.34 and its 200 day moving average price is $118.29. Prologis has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market cap of $101.43 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09.

Prologis (NYSE:PLDGet Free Report) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the company posted $1.30 EPS. Prologis’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that Prologis will post 5.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. ASB Consultores LLC grew its stake in Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 86 shares during the last quarter. CX Institutional grew its stake in Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 88 shares during the last quarter. DT Investment Partners LLC lifted its position in Prologis by 9.8% during the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after acquiring an additional 93 shares during the period. Carmel Capital Partners LLC lifted its position in Prologis by 2.6% during the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 94 shares during the period. Finally, Yoder Wealth Management Inc. lifted its position in Prologis by 4.0% during the 3rd quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock worth $316,000 after acquiring an additional 97 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

About Prologis

(Get Free Report)

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.

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Analyst Recommendations for Prologis (NYSE:PLD)

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