Truist Financial Cuts Prologis (NYSE:PLD) Price Target to $121.00

by · The Markets Daily

Prologis (NYSE:PLD – Get Free Report) had its price objective cut by investment analysts at Truist Financial from $132.00 to $121.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective indicates a potential upside of 10.06% from the stock’s previous close.

PLD has been the subject of a number of other research reports. Raymond James reiterated an “outperform” rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. JPMorgan Chase & Co. cut their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Barclays upped their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $124.00 to $123.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.67.

View Our Latest Stock Report on PLD

Prologis Stock Performance

Shares of NYSE:PLD traded down $0.99 during mid-day trading on Friday, reaching $109.94. 3,021,620 shares of the company traded hands, compared to its average volume of 4,381,089. The company’s 50 day moving average price is $110.53 and its 200-day moving average price is $118.36. The firm has a market cap of $101.82 billion, a PE ratio of 33.24, a PEG ratio of 2.85 and a beta of 1.09. Prologis has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD – Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 earnings per share. On average, equities analysts expect that Prologis will post 5.45 EPS for the current fiscal year.

Institutional Trading of Prologis

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Semmax Financial Advisors Inc. bought a new position in Prologis during the second quarter valued at $27,000. Dunhill Financial LLC lifted its holdings in shares of Prologis by 239.5% in the 3rd 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 last quarter. Sunbelt Securities Inc. grew its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the last quarter. Hara Capital LLC bought a new position in Prologis during the 3rd quarter valued at about $48,000. Finally, Coastline Trust Co purchased a new stake in Prologis in the 3rd quarter worth about $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Company Profile

(Get Free Report)

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.

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