Brokerages Set Prologis, Inc. (NYSE:PLD) Price Target at $129.76

Shares of Prologis, Inc. (NYSE:PLD) have received an average rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $129.76.

PLD has been the topic of several research analyst reports. Scotiabank lowered their price objective on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 16th. Royal Bank of Canada dropped their price objective on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Barclays decreased their target price on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Evercore ISI dropped their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. Finally, The Goldman Sachs Group reduced their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 22nd.

Prologis Stock Performance

Shares of PLD opened at $110.05 on Friday. The company has a 50-day moving average of $108.55 and a two-hundred day moving average of $122.38. The stock has a market cap of $101.89 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 2.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. Prologis has a one year low of $96.64 and a one year high of $137.52.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, June 17th. Prologis’s dividend payout ratio is currently 112.28%.

Institutional Investors Weigh In On Prologis

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pathway Financial Advisers LLC bought a new stake in shares of Prologis in the first quarter valued at approximately $49,000. Cetera Advisors LLC raised its stake in Prologis by 118.7% during the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after purchasing an additional 20,623 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Prologis by 107.9% in the 1st quarter. Cetera Investment Advisers now owns 159,311 shares of the real estate investment trust’s stock valued at $20,745,000 after purchasing an additional 82,682 shares during the period. Raelipskie Partnership acquired a new stake in Prologis in the 1st quarter worth $629,000. Finally, Atria Investments Inc increased its holdings in shares of Prologis by 1.7% during the 1st quarter. Atria Investments Inc now owns 78,545 shares of the real estate investment trust’s stock worth $10,228,000 after purchasing an additional 1,282 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

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.