Prologis (NYSE:PLD) Given New $120.00 Price Target at Morgan Stanley

Prologis (NYSE:PLD) had its target price cut by Morgan Stanley to $120.00 in a research note issued to investors on Monday morning. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on PLD. Royal Bank of Canada upped their price target on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Evercore ISI decreased their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research note on Thursday. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Wolfe Research lowered their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Scotiabank reiterated a “sector underperform” rating and set a $97.00 price target (down from $133.00) on shares of Prologis in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.32.

Prologis Price Performance

Shares of PLD traded up $2.34 during trading hours on Monday, reaching $102.63. The stock had a trading volume of 3,810,960 shares, compared to its average volume of 4,173,232. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock has a market capitalization of $95.13 billion, a PE ratio of 25.60, a PEG ratio of 2.70 and a beta of 1.20. Prologis has a 12 month low of $85.35 and a 12 month high of $132.57. The company’s 50-day moving average is $112.19 and its two-hundred day moving average is $113.59.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Research analysts expect that Prologis will post 5.73 EPS for the current year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.94%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Buying and Selling

In other Prologis 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 transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, 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 SEC, which is available at this hyperlink. 0.50% of the stock is owned by company insiders.

Institutional Trading of Prologis

A number of hedge funds have recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp purchased a new position in shares of Prologis in the fourth quarter worth about $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis in the 4th quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in Prologis in the fourth quarter worth about $30,000. REAP Financial Group LLC boosted its position 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 purchasing an additional 84 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Prologis during the 4th quarter valued at $34,000. 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.