Barclays Boosts Prologis (NYSE:PLD) Price Target to $142.00

Prologis (NYSE:PLD) had its target price boosted by Barclays from $123.00 to $142.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on the stock. Evercore ISI boosted their target price on shares of Prologis from $119.00 to $123.00 and gave the company an in-line rating in a research report on Thursday, July 18th. StockNews.com raised shares of Prologis from a sell rating to a hold rating in a report on Thursday, July 18th. The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the stock a buy rating in a report on Thursday, July 25th. Robert W. Baird reduced their price target on shares of Prologis from $137.00 to $117.00 and set a neutral rating on the stock in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. cut their target price on shares of Prologis from $143.00 to $128.00 and set an overweight rating on the stock in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $130.93.

Prologis Price Performance

Shares of PLD opened at $123.98 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29. The company’s 50-day moving average is $115.08 and its 200-day moving average is $119.79. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The firm has a market capitalization of $114.79 billion, a PE ratio of 36.25, a PEG ratio of 2.98 and a beta of 1.06.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $1.83 earnings per share. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. Equities analysts forecast that Prologis will post 5.43 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a $0.96 dividend. The ex-dividend date was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.10%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Institutional Trading of Prologis

Hedge funds have recently added to or reduced their stakes in the stock. Optimum Investment Advisors acquired a new stake in Prologis during the 1st quarter worth approximately $26,000. American Capital Advisory LLC acquired a new stake in Prologis during the 2nd quarter worth approximately $26,000. True Wealth Design LLC acquired a new stake in shares of Prologis in the 4th quarter valued at approximately $27,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis in the 2nd quarter valued at approximately $29,000. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 168 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

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.