Prologis (NYSE:PLD) Given a $149.00 Price Target at Evercore ISI

Evercore ISI set a $149.00 price target on Prologis (NYSE:PLDGet Rating) in a report released on Monday, Stock Target Advisor reports.

Several other research firms have also issued reports on PLD. BTIG Research raised their price target on Prologis from $161.00 to $193.00 and gave the stock a buy rating in a research report on Tuesday, April 12th. Raymond James lifted their price objective on Prologis from $180.00 to $190.00 and gave the stock a strong-buy rating in a research report on Monday, April 25th. Wells Fargo & Company cut their price objective on Prologis from $184.00 to $160.00 in a research report on Monday, June 6th. Barclays lifted their price target on Prologis from $171.00 to $190.00 and gave the company an overweight rating in a research report on Thursday, April 21st. Finally, Robert W. Baird lifted their price target on Prologis from $152.00 to $175.00 in a research report on Wednesday, April 20th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $174.75.

Shares of NYSE PLD opened at $118.24 on Monday. The stock has a market cap of $87.53 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 2.23 and a beta of 0.84. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.48. Prologis has a 1-year low of $106.46 and a 1-year high of $174.54. The stock’s 50-day moving average is $134.23 and its 200 day moving average is $148.45.

Prologis (NYSE:PLDGet Rating) last announced its quarterly earnings data on Tuesday, April 19th. The real estate investment trust reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.99. Prologis had a return on equity of 9.98% and a net margin of 77.08%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $0.97 EPS. Prologis’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts forecast that Prologis will post 5.15 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Wednesday, June 15th. Prologis’s payout ratio is 63.33%.

In other news, Director Irving F. Lyons III sold 44,385 shares of the business’s stock in a transaction on Monday, April 25th. The stock was sold at an average price of $164.60, for a total value of $7,305,771.00. Following the completion of the transaction, the director now owns 22,431 shares in the company, valued at $3,692,142.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Avid Modjtabai purchased 15,000 shares of the firm’s stock in a transaction dated Friday, May 20th. The stock was acquired at an average price of $118.65 per share, with a total value of $1,779,750.00. Following the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at $1,779,750. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of PLD. Norges Bank purchased a new position in shares of Prologis in the fourth quarter worth $1,172,128,000. State Street Corp increased its position in Prologis by 10.4% during the first quarter. State Street Corp now owns 51,717,111 shares of the real estate investment trust’s stock valued at $8,351,279,000 after acquiring an additional 4,861,668 shares during the last quarter. BlackRock Inc. increased its position in Prologis by 5.7% during the fourth quarter. BlackRock Inc. now owns 77,044,162 shares of the real estate investment trust’s stock valued at $12,971,155,000 after acquiring an additional 4,127,777 shares during the last quarter. Cohen & Steers Inc. increased its position in Prologis by 23.5% during the first quarter. Cohen & Steers Inc. now owns 18,488,000 shares of the real estate investment trust’s stock valued at $2,985,801,000 after acquiring an additional 3,513,643 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Prologis by 1.9% during the first quarter. Vanguard Group Inc. now owns 97,672,838 shares of the real estate investment trust’s stock valued at $15,772,211,000 after acquiring an additional 1,814,967 shares during the last quarter. Hedge funds and other institutional investors own 93.53% of the company’s stock.

Prologis Company Profile (Get Rating)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

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