The Goldman Sachs Group Reiterates “Neutral” Rating for Prologis (NYSE:PLD)

The Goldman Sachs Group reiterated their neutral rating on shares of Prologis (NYSE:PLD) in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $132.00 price target on the real estate investment trust’s stock, down from their previous price target of $142.00.

A number of other research analysts have also recently commented on the stock. Barclays dropped their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Truist Financial increased their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Argus increased their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $131.47.

Prologis Trading Up 1.6 %

PLD opened at $120.82 on Monday. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a 50-day simple moving average of $125.26 and a 200 day simple moving average of $117.54. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $111.86 billion, a price-to-earnings ratio of 35.33, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $1.30 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts predict that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 112.28%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Prologis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Prologis by 19.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,985 shares of the real estate investment trust’s stock valued at $13,898,000 after buying an additional 19,193 shares in the last quarter. CWC Advisors LLC. purchased a new position in Prologis during the 3rd quarter valued at about $220,000. Lake Street Advisors Group LLC grew its holdings in Prologis by 2.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 9,171 shares of the real estate investment trust’s stock valued at $1,158,000 after buying an additional 188 shares in the last quarter. Tandem Capital Management Corp ADV grew its holdings in Prologis by 1.6% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 19,427 shares of the real estate investment trust’s stock valued at $2,530,000 after buying an additional 310 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Prologis by 8.5% during the third quarter. Ballentine Partners LLC now owns 15,268 shares of the real estate investment trust’s stock worth $1,928,000 after purchasing an additional 1,199 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

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.