Raymond James Reiterates “Outperform” Rating for Prologis (NYSE:PLD)

Prologis (NYSE:PLD)‘s stock had its “outperform” rating reiterated by Raymond James in a report issued on Wednesday,Benzinga reports. They currently have a $125.00 price target on the real estate investment trust’s stock, down from their prior price target of $130.00. Raymond James’ price target indicates a potential upside of 10.46% from the company’s current price.

A number of other analysts have also recently weighed in on the company. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Morgan Stanley lifted their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $128.88.

Prologis Stock Performance

Shares of Prologis stock opened at $113.17 on Wednesday. The company has a market capitalization of $104.81 billion, a PE ratio of 34.19, a P/E/G ratio of 3.27 and a beta of 1.07. The company has a 50-day simple moving average of $117.35 and a two-hundred day simple moving average of $119.00. Prologis has a one year low of $101.11 and a one year high of $137.52. 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 (NYSE:PLD) last posted its quarterly earnings data 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 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 the consensus estimate of $1.91 billion. During the same quarter last year, the firm earned $1.30 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Research analysts expect that Prologis will post 5.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Prologis

A number of hedge funds have recently made changes to their positions in PLD. American Capital Advisory LLC acquired a new position in Prologis in the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis during the 2nd quarter valued at approximately $27,000. Sunbelt Securities Inc. lifted its holdings in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Prologis in the second quarter valued at approximately $31,000. Finally, Dunhill Financial LLC grew its position in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the period. Institutional investors and hedge funds 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.