Evercore ISI Cuts Prologis (NYSE:PLD) Price Target to $106.00

Prologis (NYSE:PLD) had its price target reduced by research analysts at Evercore ISI from $111.00 to $106.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target indicates a potential upside of 5.51% from the stock’s previous close.

PLD has been the topic of several other research reports. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Mizuho reduced their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Wolfe Research dropped their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Royal Bank of Canada boosted their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.56.

Prologis Trading Up 2.0 %

Shares of Prologis stock opened at $100.46 on Thursday. The firm’s 50 day moving average is $112.19 and its 200 day moving average is $113.59. The firm has a market capitalization of $93.12 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. Prologis has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Prologis

A number of large investors have recently bought and sold shares of the stock. REAP Financial Group LLC boosted its position in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Phoenix Financial Ltd. raised its stake in Prologis by 1.0% during the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock worth $955,000 after buying an additional 86 shares during the period. Principle Wealth Partners LLC boosted its holdings in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after acquiring an additional 92 shares in the last quarter. Black Diamond Financial LLC grew its stake in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after acquiring an additional 93 shares during the period. Finally, Berkshire Bank increased its holdings in shares of Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after acquiring an additional 95 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.