Robert W. Baird Issues Pessimistic Forecast for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLD) had its price target trimmed by Robert W. Baird from $126.00 to $120.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

PLD has been the subject of several other research reports. Scotiabank reissued a “sector underperform” rating and set a $97.00 price target (down previously from $133.00) on shares of Prologis in a research report on Monday, April 7th. Barclays reduced their target price on Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. BMO Capital Markets lowered their price target on Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. UBS Group boosted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Wolfe Research downgraded shares of Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.68.

Prologis Stock Up 1.4 %

Shares of NYSE:PLD opened at $106.97 on Wednesday. Prologis has a 12-month low of $85.35 and a 12-month high of $132.57. The stock has a market capitalization of $99.26 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 2.70 and a beta of 1.25. The stock has a fifty day simple moving average of $105.95 and a two-hundred day simple moving average of $111.43. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that Prologis will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.78%. Prologis’s payout ratio is currently 101.00%.

Institutional Investors Weigh In On Prologis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLD. Empirical Asset Management LLC increased its stake in shares of Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. raised its holdings in Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after acquiring an additional 25,266 shares during the period. Aviva PLC lifted its position in shares of Prologis by 36.6% in the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock valued at $73,481,000 after acquiring an additional 186,187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after acquiring an additional 179,880 shares in the last quarter. Finally, Allstate Corp boosted its stake in shares of Prologis by 111.7% in the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock worth $7,877,000 after acquiring an additional 39,321 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.