Prologis, Inc. (NYSE:PLD) Receives $128.78 Average Target Price from Analysts

Shares of Prologis, Inc. (NYSE:PLD) have been given a consensus recommendation of “Moderate Buy” by the twenty brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $128.78.

A number of analysts have recently issued reports on PLD shares. Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Scotiabank decreased their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th.

Prologis Stock Down 0.9 %

Shares of NYSE:PLD opened at $112.01 on Tuesday. The firm has a 50 day simple moving average of $117.44 and a 200 day simple moving average of $117.21. Prologis has a 52 week low of $100.82 and a 52 week high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market cap of $103.81 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.61%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Prologis

A number of institutional investors have recently made changes to their positions in PLD. 111 Capital bought a new position in Prologis in the 4th quarter worth approximately $454,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Prologis by 9.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 50,754 shares of the real estate investment trust’s stock worth $5,365,000 after acquiring an additional 4,544 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in Prologis by 7.3% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 33,698 shares of the real estate investment trust’s stock worth $3,562,000 after acquiring an additional 2,297 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in Prologis during the 4th quarter valued at $32,910,000. Finally, Phocas Financial Corp. bought a new stake in Prologis in the 4th quarter valued at $342,000. 93.50% of the stock is currently owned by institutional investors.

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.