Prologis (NYSE:PLD) Price Target Lowered to $120.00 at Morgan Stanley

Prologis (NYSE:PLD) had its price target dropped by stock analysts at Morgan Stanley to $120.00 in a research note issued on Monday. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective indicates a potential upside of 17.18% from the company’s previous close.

A number of other brokerages have also recently issued reports on PLD. Scotiabank restated a “sector underperform” rating and set a $97.00 target price (down previously from $133.00) on shares of Prologis in a research report on Monday, April 7th. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Evercore ISI dropped their price objective on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research report on Thursday. Finally, Mizuho reduced their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.33.

Prologis Stock Performance

Shares of Prologis stock traded up $2.11 during trading on Monday, reaching $102.40. The company’s stock had a trading volume of 3,764,109 shares, compared to its average volume of 4,808,420. The firm has a market cap of $94.93 billion, a PE ratio of 25.60, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a 50-day moving average price of $112.19 and a two-hundred day moving average price of $113.59. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

Prologis (NYSE:PLD) last released its quarterly earnings data 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 return on equity of 6.44% and a net margin of 45.50%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. On average, analysts forecast that Prologis will post 5.73 EPS for the current year.

Insider Transactions at Prologis

In other Prologis 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 transaction, the executive now 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 through this link. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. REAP Financial Group LLC boosted its stake in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 84 shares during the period. Phoenix Financial Ltd. increased its position in Prologis by 1.0% in the fourth 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 lifted its stake 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 valued at $349,000 after buying an additional 92 shares during the last quarter. Black Diamond Financial LLC boosted its holdings in shares of Prologis by 2.2% during 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 grew its position 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 worth $443,000 after acquiring an additional 95 shares during the last quarter. 93.50% of the stock is 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.