RBC Capital analyst Michael Carroll maintained a Buy rating on Prologis (PLD) on February 21 and set a price target of $102.00. The company’s shares closed last Monday at $95.98, close to its 52-week high of $99.79.
According to TipRanks.com, Carroll is a 5-star analyst with an average return of 13.5% and a 76.4% success rate. Carroll covers the Financial sector, focusing on stocks such as Monmouth Real Estate Investment, Easterly Government Properties, and Diversified Healthcare Trust.
Currently, the analyst consensus on Prologis is a Strong Buy with an average price target of $98.64, implying a 0.9% upside from current levels. In a report issued on February 12, Morgan Stanley also resumed coverage with a Buy rating on the stock with a $100.00 price target.
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Based on Prologis’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $387 million. In comparison, last year the company had a net profit of $598 million.
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Prologis, Inc. engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.
