Scotiabank Lowers Prologis (NYSE:PLD) Price Target to $134.00

Prologis (NYSE:PLD) had its target price dropped by research analysts at Scotiabank from $136.00 to $134.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 17.77% from the company’s previous close.

Several other equities analysts have also issued reports on PLD. Evercore ISI lifted their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Morgan Stanley upped their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Wells Fargo & Company raised their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, Bank of America reiterated a “neutral” rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $130.81.

Prologis Stock Performance

PLD opened at $113.78 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis has a 52-week low of $101.11 and a 52-week high of $137.52. The firm has a market cap of $105.38 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 3.40 and a beta of 1.07. The business’s fifty day moving average is $117.84 and its 200-day moving average is $118.81.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the business earned $1.30 earnings per share. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Prologis will post 5.45 EPS for the current fiscal year.

Institutional Trading of Prologis

A number of institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after buying an additional 2,138,693 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Prologis during the 2nd quarter worth approximately $203,223,000. AMF Tjanstepension AB increased its stake in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after acquiring an additional 1,358,542 shares during the period. Institutional investors own 93.50% 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 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.