Prologis (NYSE:PLD) Price Target Raised to $100.00

Prologis (NYSE:PLD) had its price target increased by Scotiabank from $97.00 to $100.00 in a report released on Monday,Benzinga reports. They currently have a sector underperform rating on the real estate investment trust’s stock.

A number of other research firms have also recently weighed in on PLD. Robert W. Baird lowered their price target on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Morgan Stanley lowered their price target on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Wolfe Research cut shares of Prologis from an “outperform” rating to a “peer perform” rating in a research note on Monday, April 21st. Finally, UBS Group upped their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $121.84.

Prologis Stock Performance

Shares of PLD opened at $107.42 on Monday. 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 $99.68 billion, a P/E ratio of 26.86, a P/E/G ratio of 2.70 and a beta of 1.25. The company’s fifty day moving average is $105.21 and its two-hundred day moving average is $111.22. Prologis has a 1 year low of $85.35 and a 1 year high of $132.57.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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 company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. On average, sell-side analysts predict that Prologis will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.76%. Prologis’s dividend payout ratio (DPR) is 101.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLD. Wealth Enhancement Advisory Services LLC lifted its holdings in Prologis by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 48,108 shares of the real estate investment trust’s stock valued at $5,085,000 after purchasing an additional 1,898 shares in the last quarter. Czech National Bank lifted its holdings in shares of Prologis by 6.5% during the 4th quarter. Czech National Bank now owns 200,813 shares of the real estate investment trust’s stock worth $21,226,000 after acquiring an additional 12,195 shares during the period. Green Alpha Advisors LLC lifted its holdings in shares of Prologis by 1.5% during the 4th quarter. Green Alpha Advisors LLC now owns 10,320 shares of the real estate investment trust’s stock worth $1,091,000 after acquiring an additional 152 shares during the period. Cardano Risk Management B.V. lifted its holdings in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after acquiring an additional 25,266 shares during the period. Finally, Grassi Investment Management lifted its holdings in shares of Prologis by 1.0% during the 4th quarter. Grassi Investment Management now owns 254,325 shares of the real estate investment trust’s stock worth $26,882,000 after acquiring an additional 2,400 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

About Prologis

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.