Truist Financial Has Lowered Expectations for Prologis (NYSE:PLD) Stock Price

by · The Cerbat Gem

Prologis (NYSE:PLD – Get Free Report) had its price objective cut by analysts at Truist Financial from $123.00 to $120.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target would indicate a potential upside of 13.79% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. CJS Securities dropped their price objective on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Mizuho decreased their price target on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Evercore ISI cut their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday, April 17th. Barclays decreased their price objective on Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.89.

Check Out Our Latest Stock Report on PLD

Prologis Price Performance

Shares of PLD stock traded up $0.05 on Monday, reaching $105.46. The company had a trading volume of 1,111,666 shares, compared to its average volume of 4,129,423. The business’s 50-day moving average is $107.68 and its 200 day moving average is $111.81. Prologis has a one year low of $85.35 and a one year high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $97.86 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Equities research analysts forecast that Prologis will post 5.73 EPS for the current fiscal year.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PLD. Synovus Financial Corp boosted its stake in shares of Prologis by 20.4% during the third quarter. Synovus Financial Corp now owns 4,659 shares of the real estate investment trust’s stock valued at $588,000 after purchasing an additional 790 shares during the period. Nordea Investment Management AB boosted its position in Prologis by 11.1% during the 4th quarter. Nordea Investment Management AB now owns 499,787 shares of the real estate investment trust’s stock valued at $53,012,000 after buying an additional 50,113 shares during the period. Canandaigua National Bank & Trust Co. grew its holdings in Prologis by 4.4% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 9,906 shares of the real estate investment trust’s stock worth $1,047,000 after acquiring an additional 420 shares during the last quarter. Diversified Trust Co increased its position in shares of Prologis by 564.8% in the fourth quarter. Diversified Trust Co now owns 27,635 shares of the real estate investment trust’s stock valued at $2,921,000 after acquiring an additional 23,478 shares during the period. Finally, First County Bank CT raised its stake in shares of Prologis by 21.0% during the fourth quarter. First County Bank CT now owns 2,681 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 466 shares during the last quarter. 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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