Prologis (NYSE:PLD) Price Target Cut to $135.00

Prologis (NYSE:PLD) had its price objective decreased by Barclays from $141.00 to $135.00 in a report released on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

Several other brokerages also recently commented on PLD. Morgan Stanley lifted their price target on Prologis from $128.00 to $141.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Evercore ISI reaffirmed an in-line rating and issued a $136.00 price target on shares of Prologis in a research report on Monday, March 18th. TheStreet raised Prologis from a c+ rating to a b- rating in a research report on Friday, January 26th. Raymond James lifted their price target on Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a research report on Wednesday, January 24th. Finally, Robert W. Baird lifted their price target on Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a research report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prologis presently has a consensus rating of Moderate Buy and a consensus target price of $137.86.

Prologis Stock Down 1.1 %

Shares of PLD stock opened at $103.49 on Wednesday. The stock’s 50 day simple moving average is $127.87 and its 200 day simple moving average is $122.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a market capitalization of $95.73 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 2.14 and a beta of 1.00.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.49% and a net margin of 38.73%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 earnings per share. As a group, research analysts predict that Prologis will post 5.47 EPS for the current year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.71%. Prologis’s payout ratio is currently 112.28%.

Institutional Trading of Prologis

Several institutional investors have recently bought and sold shares of the stock. Maryland State Retirement & Pension System boosted its stake in Prologis by 0.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 72,438 shares of the real estate investment trust’s stock valued at $9,433,000 after buying an additional 614 shares in the last quarter. American National Bank & Trust Co. VA acquired a new stake in Prologis in the 1st quarter valued at $418,000. RBA Wealth Management LLC boosted its stake in Prologis by 1.2% in the 1st quarter. RBA Wealth Management LLC now owns 33,474 shares of the real estate investment trust’s stock valued at $4,359,000 after buying an additional 412 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in Prologis by 2.9% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 7,167 shares of the real estate investment trust’s stock valued at $933,000 after buying an additional 204 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in Prologis by 19.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 24,339 shares of the real estate investment trust’s stock valued at $3,169,000 after buying an additional 4,035 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.