Evercore ISI Lowers Prologis (NYSE:PLD) Price Target to $122.00

Prologis (NYSE:PLD) had its price target decreased by equities research analysts at Evercore ISI from $123.00 to $122.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price points to a potential downside of 1.99% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on PLD. Scotiabank lifted their price objective on Prologis from $130.00 to $135.00 and gave the company a “sector outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $124.00 to $127.00 in a report on Monday, August 5th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Truist Financial boosted their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $131.75.

Prologis Price Performance

Shares of PLD stock opened at $124.48 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29. The company has a market capitalization of $115.25 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. The firm’s 50-day moving average is $118.64 and its two-hundred day moving average is $119.25. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion for 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 firm’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 EPS. Analysts predict that Prologis will post 5.43 earnings per share for the current year.

Institutional Investors Weigh In On Prologis

Several large investors have recently modified their holdings of the company. Arbor Capital Management Inc. ADV boosted its stake in Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares during the period. Mitchell Sinkler & Starr PA boosted its stake in shares of Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 90 shares during the period. Destination Wealth Management grew its holdings in shares of Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 92 shares during the last quarter. CVA Family Office LLC increased its position in Prologis by 21.4% in the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 94 shares during the period. Finally, Tiemann Investment Advisors LLC raised its stake in Prologis by 2.4% during the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after acquiring an additional 100 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.