Prologis (NYSE:PLD) Price Target Cut to $138.00 by Analysts at UBS Group

Prologis (NYSE:PLD) had its price objective lowered by UBS Group from $151.00 to $138.00 in a report issued on Thursday morning, Benzinga reports. UBS Group currently has a buy rating on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on the company. Evercore ISI cut their price target on Prologis from $136.00 to $123.00 and set an in-line rating for the company in a report on Thursday. Morgan Stanley raised their price target on Prologis from $128.00 to $141.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. Robert W. Baird upped their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a neutral rating in a research note on Tuesday, January 23rd. Raymond James upped their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada lifted their price objective on Prologis from $128.00 to $145.00 and gave the company an outperform rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $140.00.

Prologis Stock Performance

PLD opened at $104.67 on Thursday. Prologis has a 1-year low of $96.64 and a 1-year high of $137.52. The stock has a market cap of $96.82 billion, a P/E ratio of 31.81, a P/E/G ratio of 2.29 and a beta of 1.00. The stock’s 50 day simple moving average is $128.45 and its 200 day simple moving average is $122.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 earnings per share. As a group, equities analysts anticipate that Prologis will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.67%. Prologis’s dividend payout ratio (DPR) is 116.72%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLD. Optimum Investment Advisors acquired a new stake in shares of Prologis in the 1st quarter valued at $26,000. True Wealth Design LLC bought a new position in shares of Prologis in the 4th quarter valued at about $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Prologis during the 4th quarter worth approximately $28,000. FinTrust Capital Advisors LLC raised its stake in shares of Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 232 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 168 shares during the period. 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 December 31, 2023, 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.