Prologis, Inc. (NYSE:PLD) Receives $132.71 Average Target Price from Analysts

Shares of Prologis, Inc. (NYSE:PLD) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $131.47.

A number of equities research analysts have commented on the company. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Truist Financial raised their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Morgan Stanley raised their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Wells Fargo & Company boosted their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC increased its holdings in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Swedbank AB acquired a new position in shares of Prologis during the 1st quarter valued at about $596,614,000. Alphinity Investment Management Pty Ltd purchased a new position in Prologis during the first quarter worth approximately $465,659,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Prologis in the second quarter valued at $203,223,000. Finally, Vanguard Group Inc. lifted its position in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after buying an additional 1,460,229 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 3.9 %

NYSE:PLD opened at $117.77 on Friday. The company has a market cap of $109.04 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 3.05 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. The company has a 50 day simple moving average of $125.39 and a two-hundred day simple moving average of $117.56. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm earned $1.30 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Research analysts forecast that Prologis will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.26%. Prologis’s dividend payout ratio is currently 112.28%.

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.