Truist Financial Issues Positive Forecast for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLD) had its price target boosted by analysts at Truist Financial from $131.00 to $142.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price indicates a potential upside of 6.60% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley set a $135.00 price target on shares of Prologis in a research report on Friday. Baird R W cut Prologis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Industrial Alliance Securities set a $119.00 target price on Prologis in a research note on Monday, October 20th. Mizuho raised their target price on Prologis from $118.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Prologis in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

Prologis Stock Up 0.3%

Shares of NYSE:PLD opened at $133.21 on Tuesday. The stock has a 50-day simple moving average of $128.03 and a 200-day simple moving average of $118.74. The stock has a market capitalization of $123.74 billion, a P/E ratio of 38.84, a PEG ratio of 3.91 and a beta of 1.40. Prologis has a 1 year low of $85.35 and a 1 year high of $134.94. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm had revenue of $2.21 billion for the quarter. Equities analysts forecast that Prologis will post 5.73 earnings per share for the current year.

Insider Buying and Selling at Prologis

In other Prologis news, Director James B. Connor sold 80,000 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $126.58, for a total transaction of $10,126,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares of the company’s stock, valued at $1,047,340.80. The trade was a 7.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 81,121 shares of company stock worth $10,267,210 over the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Clayton Financial Group LLC bought a new position in Prologis during the third quarter worth $26,000. True Wealth Design LLC raised its holdings in shares of Prologis by 87.1% during the fourth quarter. True Wealth Design LLC now owns 262 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 122 shares during the period. Silver Oak Securities Incorporated bought a new position in shares of Prologis in the 3rd quarter worth about $36,000. Rossby Financial LCC boosted its holdings in shares of Prologis by 69.6% in the 3rd quarter. Rossby Financial LCC now owns 329 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 135 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of Prologis in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.