Prologis (NYSE:PLD) Given New $123.00 Price Target at Truist Financial

Prologis (NYSE:PLDFree Report) had its price objective lifted by Truist Financial from $121.00 to $123.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the stock. Scotiabank lowered their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday. Raymond James restated an “outperform” rating and issued a $125.00 price objective (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Mizuho lowered their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Get Our Latest Stock Report on Prologis

Prologis Trading Up 2.0 %

Shares of PLD opened at $121.29 on Monday. The firm has a market cap of $112.33 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 3.19 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. Prologis has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm has a 50 day moving average price of $110.49 and a 200-day moving average price of $118.41.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.17%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after purchasing an additional 767,609 shares in the last quarter. Geode Capital Management LLC lifted its position in Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after acquiring an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Prologis by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after buying an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Finally, Swedbank AB raised its holdings in Prologis by 1.8% in the fourth quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after buying an additional 80,575 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.