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

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

Other analysts have also issued research reports about the stock. Bank of America restated a neutral rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Argus lifted their price target on Prologis from $120.00 to $135.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the stock an overweight rating in a research report on Wednesday, August 14th. Mizuho cut their price objective on Prologis from $130.00 to $120.00 and set a neutral rating for the company in a research report on Friday, May 31st. Finally, Wells Fargo & Company increased their target price on Prologis from $142.00 to $146.00 and gave the company an overweight rating in a research report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prologis currently has a consensus rating of Moderate Buy and a consensus price target of $133.35.

Prologis Stock Performance

Shares of PLD stock opened at $127.05 on Monday. The stock has a market cap of $117.63 billion, a PE ratio of 37.15, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52. The business has a 50-day simple moving average of $125.21 and a 200-day simple moving average of $118.73. 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 (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s 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 earnings per share. On average, equities analysts expect that Prologis will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.96 per share. The ex-dividend date is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.02%. Prologis’s payout ratio is 112.28%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction 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 transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Prologis

Hedge funds and other institutional investors have recently made changes to their positions in the company. Optimum Investment Advisors purchased a new position in Prologis in the first quarter worth approximately $26,000. American Capital Advisory LLC purchased a new position in shares of Prologis during the 2nd quarter worth $26,000. True Wealth Design LLC acquired a new stake in shares of Prologis during the 4th quarter worth about $27,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the 2nd quarter valued at about $27,000. Finally, Central Valley Advisors LLC acquired a new position in Prologis in the second quarter valued at about $29,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Prologis

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.