Brokerages Set Prologis, Inc. (NYSE:PLD) Target Price at $128.88

Shares of Prologis, Inc. (NYSE:PLD) have earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $129.25.

PLD has been the subject of a number of analyst reports. Evercore ISI increased their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Raymond James reaffirmed an “outperform” rating and set a $125.00 price target (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Scotiabank lowered their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th.

Institutional Investors Weigh In On Prologis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ASB Consultores LLC boosted its stake in shares of Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV boosted its position in Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares in the last quarter. CX Institutional grew its stake in shares of Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the period. Mitchell Sinkler & Starr PA grew its stake in shares of Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares during the period. Finally, DT Investment Partners LLC increased its holdings in shares of Prologis by 9.8% during the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 93 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Up 1.0 %

Shares of NYSE:PLD opened at $106.65 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $98.78 billion, a PE ratio of 32.22, a P/E/G ratio of 3.27 and a beta of 1.09. Prologis has a 12-month low of $100.82 and a 12-month high of $135.76. The business’s fifty day simple moving average is $111.66 and its 200-day simple moving average is $118.64.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. As a group, equities research analysts predict that Prologis will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.60%. Prologis’s dividend payout ratio is presently 116.01%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.