Wolfe Research lifts Prologis Inc. [PLD] price estimate. Who else is bullish?

Prologis Inc. [NYSE: PLD] closed the trading session at $124.51 on 08/31/22. The day’s price range saw the stock hit a low of $124.4507, while the highest price level was $128.06. The company report on August 31, 2022 that Prologis, L.P. Commences Exchange Offers for Duke Realty Notes.

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Prologis, Inc. (NYSE: PLD; “PLD” ) today announced that PLD’s operating partnership, Prologis, L.P. (“Prologis OP”), commenced offers to exchange outstanding notes (the “Duke Realty Notes”) of the nine series described in the table below issued by Duke Realty Limited Partnership (“Duke Realty OP”) for notes in nine corresponding series to be issued by Prologis OP (the “Prologis Notes”) in the aggregate principal amount of up to $3.375 billion. The Prologis Notes will be issued under and governed by the terms of the Prologis indenture dated June 8, 2011. Prologis OP is making the exchange offers and, on behalf of the combined companies, the solicitation of consents to amend the applicable Duke Realty OP indenture (such indentures, as amended and supplemented, the “Duke Realty Indentures”) governing the Duke Realty Notes (the “Proposed Amendments”) in anticipation of the pending merger of PLD and Duke Realty Corporation (“DRE”).

The exchange offers and the solicitation of consents are being made under the terms and subject to the conditions set forth in the prospectus contained in the registration statement on Form S-4 filed by Prologis OP with the Securities and Exchange Commission (the “SEC”) on August 31, 2022 and a related letter of transmittal and consent that contains a more complete description of the terms and conditions of the exchange offers and the solicitation of consents.

The stocks have a year to date performance of -26.05 percent and weekly performance of -5.04 percent. The stock has been moved at -15.67 percent over the last six months. The stock has performed -3.76 percent around the most recent 30 days and changed -1.07 percent over the most recent 3-months.

If compared to the average trading volume of 3.56M shares, PLD reached to a volume of 3724637 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $159.00 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 2.10. 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.

Wolfe Research have made an estimate for Prologis Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 24, 2022. The new note on the price target was released on September 20, 2021, representing the official price target for Prologis Inc. stock. Previously, the target price had yet another raise to $159, while Barclays analysts kept a Overweight rating on PLD stock.

The Average True Range (ATR) for Prologis Inc. is set at 2.76, with the Price to Sales ratio for PLD stock in the period of the last 12 months amounting to 19.34. The Price to Book ratio for the last quarter was 2.67, with the Price to Cash per share for the same quarter was set at 0.57. Price to Free Cash Flow for PLD in the course of the last twelve months was 107.72.

PLD stock trade performance evaluation

Prologis Inc. [PLD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.04. With this latest performance, PLD shares dropped by -3.76% in over the last four-week period, additionally sinking by -15.67% over the last 6 months – not to mention a drop of -7.54% 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 38.09, with the RSI for the last a single of trading hit 30.65, and the three-weeks RSI is set at 42.53 for Prologis Inc. [PLD]. The present Moving Average for the last 50 days of trading for this stock 126.92, while it was recorded at 127.72 for the last single week of trading, and 143.76 for the last 200 days.

Prologis Inc. [PLD]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Prologis Inc. [PLD] shares currently have an operating margin of +37.54 and a Gross Margin at +40.61. Prologis Inc.’s Net Margin is presently recorded at +61.77.

Return on Equity for this stock inclined to 8.99, with Return on Assets sitting at 5.13.

Earnings per share (EPS) analysis for Prologis Inc. [PLD] stock

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%.

Prologis Inc. [PLD]: Insider Ownership positions

There are presently around $87,491 million, or 98.40% of PLD stock, in the hands of institutional investors. The top three institutional holders of PLD stocks are: VANGUARD GROUP INC with ownership of 97,250,638, which is approximately -0.432% of the company’s market cap and around 0.33% of the total institutional ownership; BLACKROCK INC., holding 73,969,007 shares of the stock with an approximate value of $9.21 billion in PLD stocks shares; and STATE STREET CORP, currently with $6.36 billion in PLD stock with ownership of nearly -1.21% of the company’s market capitalization.

Positions in Prologis Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 649 institutional holders increased their position in Prologis Inc. [NYSE:PLD] by around 41,762,278 shares. Additionally, 554 investors decreased positions by around 33,314,768 shares, while 173 investors held positions by with 627,602,900 shares. The mentioned changes placed institutional holdings at 702,679,946 shares, according to the latest SEC report filing. PLD stock had 126 new institutional investments in for a total of 7,172,570 shares, while 162 institutional investors sold positions of 5,288,090 shares during the same period.


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