Prologis (NYSE:PLD) PT Lowered to $131.00 at JPMorgan Chase & Co.

Prologis (NYSE:PLD) had its price target reduced by JPMorgan Chase & Co. from $138.00 to $131.00 in a research report sent to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the company. Argus upped their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Scotiabank raised their target price on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Wells Fargo & Company raised their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Morgan Stanley raised their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.47.

Prologis Stock Performance

NYSE:PLD opened at $117.77 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52. The stock’s 50 day simple moving average is $125.39 and its two-hundred day simple moving average is $117.56. The company has a market cap of $109.04 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the firm posted $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Prologis will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.26%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Arbor Capital Management Inc. ADV grew its stake in Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after buying an additional 87 shares during the last quarter. CX Institutional grew its stake in Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA lifted its position in shares of Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares in the last quarter. Destination Wealth Management increased its holdings in shares of Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares in the last quarter. Finally, Tiemann Investment Advisors LLC increased its holdings in shares of Prologis by 2.4% in the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds 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.