Evercore ISI Raises Prologis (NYSE:PLD) Price Target to $128.00

Prologis (NYSE:PLD) had its price objective increased by Evercore ISI from $124.00 to $128.00 in a report released on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on the company. BMO Capital Markets reaffirmed a market perform rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. 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 report on Monday, August 5th. The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the company a buy rating in a report on Thursday, July 25th. Bank of America restated a neutral rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Finally, Wells Fargo & Company increased their target price on shares of Prologis from $142.00 to $146.00 and gave the company an overweight rating in a research note on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis has a consensus rating of Moderate Buy and a consensus target price of $133.35.

Prologis Trading Up 1.2 %

NYSE:PLD opened at $128.51 on Monday. The company’s 50 day moving average is $125.38 and its 200-day moving average is $118.80. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52. The firm has a market cap of $118.98 billion, a price-to-earnings ratio of 37.58, a P/E/G ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its 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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. The business’s revenue was down 18.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.83 EPS. Equities analysts anticipate that Prologis will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Monday, September 16th. Prologis’s payout ratio is 112.28%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Prologis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optimum Investment Advisors bought a new position in shares of Prologis in the 1st quarter worth $26,000. American Capital Advisory LLC bought a new position in Prologis during the second quarter worth about $26,000. True Wealth Design LLC bought a new position in Prologis during the fourth quarter worth about $27,000. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter worth about $27,000. Finally, Central Valley Advisors LLC bought a new stake in shares of Prologis in the 2nd quarter valued at about $29,000. 93.50% of the stock is owned by institutional investors.

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.