Prologis, Inc. (NYSE:PLD) Stock Has Average Price Target of $154.05 According to Brokerages

Prologis, Inc. (NYSE:PLD) has been given an average rating of “Moderate Buy” by the twenty-five brokerages that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $154.05.

A number of equities research analysts have commented on the company. KeyCorp reiterated a “sector weight” rating on shares of Prologis in a research note on Monday, October 19th. Scotiabank raised shares of Prologis from a “sector perform” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a research report on Tuesday, October 13th. Weiss Ratings lowered shares of Prologis from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 26th. Truist Financial decreased their price target on shares of Prologis from $162.00 to $141.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $170.00 price target on shares of Prologis in a report on Friday, October 16th.

Hedge Funds Weigh In On Prologis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLD. Baird Financial Group Inc. raised its holdings in shares of Prologis by 20.6% during the 2nd quarter. Baird Financial Group Inc. now owns 122,809 shares of the real estate investment trust’s stock worth $16,637,000 after acquiring an additional 21,000 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Prologis by 2,862.3% in the third quarter. International Assets Investment Management LLC now owns 67,452 shares of the real estate investment trust’s stock valued at $8,758,000 after purchasing an additional 65,175 shares during the period. Nykredit A S purchased a new stake in shares of Prologis in the second quarter valued at about $40,490,000. Callan Family Office LLC purchased a new stake in shares of Prologis in the second quarter valued at about $3,394,000. Finally, BlackRock Inc. purchased a new stake in shares of Prologis in the second quarter valued at about $14,006,587,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.1%

NYSE:PLD traded up $0.08 during midday trading on Friday, reaching $128.63. 2,919,077 shares of the stock traded hands, compared to its average volume of 3,854,768. The stock has a market capitalization of $122.26 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. Prologis has a 12-month low of $121.40 and a 12-month high of $153.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.81 and a current ratio of 0.81. The business has a 50-day moving average of $130.66 and a two-hundred day moving average of $137.75.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.3%. Prologis’s payout ratio is 94.48%.

About Prologis

Prologis is a global logistics real estate company that owns, develops and operates warehouses, distribution centers and other facilities used to store and move goods. Its properties support customers in industries including retail, manufacturing, transportation and e-commerce. The company also provides property management and development services and invests in logistics real estate through investment management platforms. Its facilities are located in major markets across North America, Europe, Asia and Latin America.