Truist Financial Boosts Prologis (NYSE:PLD) Price Target to $123.00

Prologis (NYSE:PLD) had its price target boosted by equities research analysts at Truist Financial from $121.00 to $123.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target indicates a potential upside of 2.30% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Mizuho dropped their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Barclays increased their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $125.00 price target (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.72.

Prologis Price Performance

Shares of PLD opened at $120.23 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The firm has a market capitalization of $111.35 billion, a PE ratio of 30.06, a P/E/G ratio of 3.19 and a beta of 1.09. The stock has a 50 day simple moving average of $110.63 and a 200 day simple moving average of $118.41. Prologis has a 52-week low of $100.82 and a 52-week high of $135.76.

Hedge Funds Weigh In On Prologis

Large investors have recently modified their holdings of the business. Kestra Private Wealth Services LLC boosted its stake in shares of Prologis by 43.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 50,322 shares of the real estate investment trust’s stock valued at $5,319,000 after purchasing an additional 15,231 shares during the last quarter. Empowered Funds LLC boosted its position in Prologis by 14.5% during the fourth quarter. Empowered Funds LLC now owns 39,797 shares of the real estate investment trust’s stock valued at $4,207,000 after acquiring an additional 5,042 shares during the last quarter. Forbes J M & Co. LLP boosted its position in Prologis by 0.4% during the fourth quarter. Forbes J M & Co. LLP now owns 58,080 shares of the real estate investment trust’s stock valued at $6,139,000 after acquiring an additional 213 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Prologis by 34.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 14,341 shares of the real estate investment trust’s stock worth $1,516,000 after acquiring an additional 3,667 shares during the period. Finally, Apollon Wealth Management LLC raised its position in shares of Prologis by 2.1% in the 4th quarter. Apollon Wealth Management LLC now owns 18,152 shares of the real estate investment trust’s stock worth $1,919,000 after acquiring an additional 380 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

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.