Prologis (NYSE:PLD) PT Raised to $133.00 at Morgan Stanley

Prologis (NYSE:PLD) had its price objective boosted by research analysts at Morgan Stanley from $132.00 to $133.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target points to a potential upside of 8.02% from the company’s previous close.

PLD has been the subject of a number of other reports. Scotiabank increased their target price on 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 cut their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Argus boosted their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird cut 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. Finally, Evercore ISI upped their target price on shares of Prologis from $119.00 to $123.00 and gave the stock an “in-line” rating in a research report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.81.

Prologis Stock Performance

Prologis stock traded up $0.45 during mid-day trading on Wednesday, reaching $123.13. 473,084 shares of the company were exchanged, compared to its average volume of 3,709,780. The firm’s 50-day simple moving average is $117.04 and its two-hundred day simple moving average is $119.36. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52. The firm has a market cap of $114.00 billion, a PE ratio of 36.00, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s quarterly revenue was down 18.1% on a year-over-year basis. During the same quarter last year, the business earned $1.83 earnings per share. Equities analysts predict that Prologis will post 5.43 earnings per share for the current fiscal year.

Institutional Trading of Prologis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC grew its holdings in Prologis by 182,067.2% in the first 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 during the period. Norges Bank purchased a new stake in shares of Prologis during the 4th quarter valued at $1,074,648,000. Capital World Investors raised its position in shares of Prologis by 1,252.9% in the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after buying an additional 6,765,582 shares during the period. Swedbank AB acquired a new position in Prologis in the first quarter valued at $596,614,000. Finally, Alphinity Investment Management Pty Ltd acquired a new position in Prologis in the first quarter valued at $465,659,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.