Prologis (PLD) Tops Q1 EPS by 5c ; Offers Guidance

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Go back to Prologis (PLD) Tops Q1 EPS by 5c ; Offers Guidance

ProLogis (PLD) PT Lowered to $123 at Evercore ISI

April 18, 2024 4:54 AM EDT

Evercore ISI analyst Steve Sakwa lowered the price target on ProLogis (NYSE: PLD) to $123.00 (from $136.00) while maintaining a In Line rating.

The analyst comments "Given where interest rates are today, we raised our risk-free rate assumption within our DCF from 4.0% to 4.35% and... More

KeyBanc analyst comments on Prologis (PLD) following its earnings report

April 17, 2024 11:37 AM EDT

KeyBanc analyst Todd M. Thomas commented on Prologis (NYSE: PLD) following its earnings report.

The analyst commented, "PLD kicked off 1Q24 earnings for the Industrial REITs (and REIT Industry overall) with an in line 1Q24 result, though management lowered its FY24 forecast by lowering Core FFO guidance by 1.3% at the midpoint; the revised midpoint is ~$0.05/sh... More

Truist Defending ProLogis (PLD): 'we continue to believe that PLD will remain a multi-year compound growth story'

April 17, 2024 11:07 AM EDT

Truist Securities analyst Ki Bin Kim reiterated a Buy rating and $142.00 price target on ProLogis (NYSE: PLD)

The analyst comments "Net-net: 2024 guidance reduced for Core FFO/sh (by -1.3%) and Cash SSNOI growth (6% vs 8.5% previously). Also, downshift in mgmt. tone regarding current operating conditions,... More

Citi on ProLogis (PLD): 'we expect PLD to come under pressure today'

April 17, 2024 10:58 AM EDT

Citi analyst Nicholas Joseph reiterated a Buy rating and $145.00 price target on ProLogis (NYSE: PLD).

The analyst comments "PLDs 2024 core FFO and SSNOI growth guidance reductions, along with commentary around slower net absorption, and a one quarter delay in managements timing for an... More

Morgan Stanley on ProLogis (PLD): 'We believe the key to the guidance cut is the drop in the company's net absorption guidance'

April 17, 2024 10:53 AM EDT

Morgan Stanley analyst Ronald Kamdem reiterated an Overweight rating and $141.00 price target on ProLogis (NYSE: PLD)

The analyst comments "We believe the key to the guidance cut is the drop in the company's net absorption guidance, which we had called out as risks (see Can Demand Meet Expectations? and Are stronger days ahead for demand?). We would expect 24e/25e same-store NOI growth to be revised down... More

RBC Capital Cautious on ProLogis (PLD): 'customers remain focused on controlling costs'

April 17, 2024 10:31 AM EDT

RBC Capital analyst Michael Carroll reiterated an Outperform rating and $145.00 price target on ProLogis (NYSE: PLD).

The analyst comments " PLD delivered a weak earnings report as management highlighted a slower leasing environment v. its prior expectations. Hamid noted customers remain focused on controlling costs... More

BTIG on ProLogis (PLD): 'we are keenly focused on Management's incremental insights regarding supply chain challenges'

April 17, 2024 10:23 AM EDT

BTIG analyst Thomas Catherwood reiterated a Buy rating and $154.00 price target on ProLogis (NYSE: PLD).

The analyst comments "Prologis reported 1Q24 Core FFO/sh of $1.28, $0.01 above our estimate and in line with the Street. The company lowered FY 2024 guidance by ($0.07) to $5.42 at the midpoint, primarily due to lower projected average occupancy (down 75 bps to 96.25%). While we expected an occupancy... More