Prologis Inc. [PLD] stock Downgrade by Evercore ISI analyst, price target now $135


Prologis Inc. [NYSE: PLD] loss -7.51% or -8.81 points to close at $108.43 with a heavy trading volume of 15201625 shares. The company report on June 13, 2022 that Prologis to Combine with Duke Realty in $26 Billion All-Stock Transaction.

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Prologis, Inc. (NYSE: PLD) and Duke Realty Corporation (NYSE: DRE) today announced that the two companies have entered into a definitive merger agreement by which Prologis will acquire Duke Realty in an all-stock transaction, valued at approximately $26 billion, including the assumption of debt. The respective board of directors for Prologis and Duke Realty have unanimously approved the transaction.

It opened the trading session at $108.85, the shares rose to $110.28 and dropped to $106.46, the range by which the price of stock traded the whole day. The daily chart for PLD points out that the company has recorded -31.84% loss over the past six months. However, it is still 6.82% lower than its most recent low trading price.

If we look at the average trading volume of 4.21M shares, PLD reached to a volume of 15201625 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Prologis Inc. [PLD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLD shares is $172.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLD stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for Prologis Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on September 20, 2021. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on September 01, 2021, representing the official price target for Prologis Inc. stock. Previously, the target price had yet another raise to $133, while Wolfe Research analysts kept a Peer Perform rating on PLD stock.

The Average True Range (ATR) for Prologis Inc. is set at 5.10, with the Price to Sales ratio for PLD stock in the period of the last 12 months amounting to 17.32. The Price to Book ratio for the last quarter was 2.35, with the Price to Cash per share for the same quarter was set at 2.48. Price to Free Cash Flow for PLD in the course of the last twelve months was 97.86.

Trading performance analysis for PLD stock

Prologis Inc. [PLD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.20. With this latest performance, PLD shares dropped by -12.51% in over the last four-week period, additionally sinking by -31.84% over the last 6 months – not to mention a drop of -14.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLD stock in for the last two-week period is set at 24.90, with the RSI for the last a single of trading hit 20.46, and the three-weeks RSI is set at 28.06 for Prologis Inc. [PLD]. The present Moving Average for the last 50 days of trading for this stock 143.59, while it was recorded at 120.46 for the last single week of trading, and 146.81 for the last 200 days.

Prologis Inc. [PLD]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PLD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Prologis Inc. go to -6.05%.

An analysis of insider ownership at Prologis Inc. [PLD]

There are presently around $81,602 million, or 97.10% of PLD stock, in the hands of institutional investors. The top three institutional holders of PLD stocks are: VANGUARD GROUP INC with ownership of 97,672,838, which is approximately 1.893% of the company’s market cap and around 0.34% of the total institutional ownership; BLACKROCK INC., holding 73,174,710 shares of the stock with an approximate value of $8.58 billion in PLD stocks shares; and STATE STREET CORP, currently with $6.06 billion in PLD stock with ownership of nearly 10.376% of the company’s market capitalization.

631 institutional holders increased their position in Prologis Inc. [NYSE:PLD] by around 29,464,830 shares. Additionally, 559 investors decreased positions by around 27,723,338 shares, while 176 investors held positions by with 638,837,758 shares. The mentioned changes placed institutional holdings at 696,025,926 shares, according to the latest SEC report filing. PLD stock had 124 new institutional investments in for a total of 1,737,628 shares, while 114 institutional investors sold positions of 3,240,012 shares during the same period.