Truist Financial Forecasts Strong Price Appreciation for Prologis (NYSE:PLD) Stock

Prologis (NYSE:PLD) had its target price hoisted by equities researchers at Truist Financial from $121.00 to $123.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price would indicate a potential upside of 1.64% from the company’s previous close.

PLD has been the subject of a number of other reports. Scotiabank decreased their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday. Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and cut their target price for the company from $124.00 to $123.00 in a report on Monday, January 6th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Mizuho reduced their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $128.72.

Prologis Trading Up 1.8 %

PLD stock traded up $2.09 during midday trading on Monday, hitting $121.02. The company had a trading volume of 1,711,668 shares, compared to its average volume of 4,635,353. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market cap of $112.08 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 3.19 and a beta of 1.09. Prologis has a 52 week low of $100.82 and a 52 week high of $135.76. The stock’s 50 day moving average price is $110.49 and its 200 day moving average price is $118.41.

Hedge Funds Weigh In On Prologis

Several institutional investors have recently bought and sold shares of the company. Empirical Asset Management LLC grew its stake in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares in the last quarter. Sunflower Bank N.A. bought a new position in Prologis in the 3rd quarter valued at $249,000. Cardano Risk Management B.V. increased its position in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares during the last quarter. Coronation Fund Managers Ltd. bought a new stake in shares of Prologis during the 2nd quarter worth $878,000. Finally, DekaBank Deutsche Girozentrale raised its position in Prologis by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after purchasing an additional 29,400 shares in the last quarter. Hedge funds and other 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.