Prologis, Inc. (NYSE:PLD) Receives $128.78 Average Price Target from Brokerages

Prologis, Inc. (NYSE:PLD) has been given an average rating of “Moderate Buy” by the twenty research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $128.78.

PLD has been the subject of a number of research reports. BTIG Research cut their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Scotiabank cut their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Finally, Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th.

Prologis Stock Up 0.6 %

Shares of NYSE PLD opened at $122.91 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average of $113.87 and a 200-day moving average of $118.05. The firm has a market capitalization of $113.92 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.70 and a beta of 1.10. Prologis has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.29%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. REAP Financial Group LLC increased its stake in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 84 shares during the period. ASB Consultores LLC boosted its holdings in Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares in the last quarter. Phoenix Financial Ltd. increased its position in Prologis by 1.0% during the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock valued at $955,000 after purchasing an additional 86 shares during the period. Principle Wealth Partners LLC raised its holdings in Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after purchasing an additional 92 shares in the last quarter. Finally, DT Investment Partners LLC boosted its stake 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. Institutional investors own 93.50% of the company’s stock.

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.