Prologis (NYSE:PLD) Given New $128.00 Price Target at Evercore ISI

Prologis (NYSE:PLD) had its target price boosted by Evercore ISI from $124.00 to $128.00 in a report published on Monday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

A number of other brokerages have also commented on PLD. Barclays increased their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. Morgan Stanley raised their price target on shares of Prologis from $132.00 to $133.00 and gave the company an overweight rating in a report on Wednesday, August 14th. Wells Fargo & Company increased their price objective on Prologis from $142.00 to $146.00 and gave the company an overweight rating in a research report on Wednesday, August 28th. StockNews.com upgraded Prologis from a sell rating to a hold rating in a research report on Thursday, July 18th. Finally, Argus raised their price target on Prologis from $120.00 to $135.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Prologis currently has a consensus rating of Moderate Buy and an average price target of $133.35.

Prologis Stock Performance

NYSE:PLD opened at $129.25 on Monday. The stock has a market capitalization of $119.67 billion, a P/E ratio of 37.79, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52. The firm has a 50 day moving average of $124.72 and a 200-day moving average of $118.72.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 EPS. As a group, sell-side analysts anticipate that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio is 112.28%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Prologis

Several institutional investors have recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its position in shares of Prologis by 4.4% in the fourth quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock worth $731,000 after purchasing an additional 233 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in Prologis by 61.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock valued at $692,000 after buying an additional 1,995 shares during the last quarter. Level Four Advisory Services LLC lifted its position in Prologis by 4.2% during the 4th quarter. Level Four Advisory Services LLC now owns 7,643 shares of the real estate investment trust’s stock worth $1,019,000 after buying an additional 306 shares in the last quarter. TrinityPoint Wealth LLC boosted its stake in shares of Prologis by 18.0% during the 4th quarter. TrinityPoint Wealth LLC now owns 2,228 shares of the real estate investment trust’s stock worth $297,000 after buying an additional 340 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC grew its holdings in shares of Prologis by 17.3% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,832 shares of the real estate investment trust’s stock valued at $511,000 after acquiring an additional 565 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

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.