Prologis, Inc. (NYSE:PLD) Receives $126.88 Consensus Target Price from Brokerages

Prologis, Inc. (NYSE:PLD) has earned an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $126.8824.

A number of equities analysts have commented on PLD shares. Truist Financial restated a “buy” rating and issued a $131.00 target price (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a report on Monday, October 20th. Scotiabank upped their price objective on Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. Barclays dropped their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Finally, Industrial Alliance Securities set a $119.00 price target on shares of Prologis in a report on Monday, October 20th.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the sale, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 1,621 shares of company stock valued at $198,655. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Prologis

Several hedge funds and other institutional investors have recently made changes to their positions in PLD. Clayton Financial Group LLC bought a new stake in Prologis during the 3rd quarter valued at $26,000. Activest Wealth Management increased its holdings in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 223 shares during the period. GKV Capital Management Co. Inc. bought a new stake in shares of Prologis during the first quarter valued at about $34,000. Silver Oak Securities Incorporated acquired a new stake in Prologis in the third quarter worth about $36,000. Finally, Rossby Financial LCC grew its position in Prologis by 69.6% in the 3rd quarter. Rossby Financial LCC now owns 329 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 135 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

Prologis stock opened at $127.20 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. Prologis has a 12 month low of $85.35 and a 12 month high of $131.70. The company has a fifty day moving average price of $125.69 and a two-hundred day moving average price of $115.37. The company has a market cap of $118.15 billion, a PE ratio of 37.09, a P/E/G ratio of 3.91 and a beta of 1.40.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company had revenue of $2.21 billion for the quarter. Research analysts expect that Prologis will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, December 16th. Prologis’s payout ratio is presently 117.78%.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.