Prologis, Inc. (NYSE:PLD) Receives $130.13 Consensus Target Price from Analysts

Prologis, Inc. (NYSE:PLD) has received an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $130.13.

Several research firms have recently weighed in on PLD. Scotiabank dropped their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Truist Financial reduced their target price on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Inspire Trust Co. N.A. boosted its holdings in Prologis by 20.5% in the third quarter. Inspire Trust Co. N.A. now owns 26,000 shares of the real estate investment trust’s stock worth $3,283,000 after purchasing an additional 4,419 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Prologis by 20.4% in the third quarter. Synovus Financial Corp now owns 4,659 shares of the real estate investment trust’s stock worth $588,000 after buying an additional 790 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Prologis by 12.7% during the 3rd quarter. Tidal Investments LLC now owns 200,250 shares of the real estate investment trust’s stock worth $25,288,000 after acquiring an additional 22,516 shares in the last quarter. Destination Wealth Management increased its holdings in shares of Prologis by 121.5% during the 3rd quarter. Destination Wealth Management now owns 4,504 shares of the real estate investment trust’s stock valued at $569,000 after acquiring an additional 2,471 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Prologis in the 3rd quarter valued at approximately $1,348,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $113.17 on Friday. The company has a market capitalization of $104.81 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a fifty day moving average of $117.35 and a 200-day moving average of $119.00. Prologis has a one year low of $101.11 and a one year high of $137.52.

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 the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 earnings per share. As a group, equities analysts anticipate that Prologis will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.39%. The ex-dividend date is Monday, December 16th. Prologis’s dividend payout ratio is 116.01%.

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.