Prologis (NYSE:PLD) PT Raised to $128.00

Prologis (NYSE:PLD) had its price objective boosted by Evercore ISI from $124.00 to $128.00 in a report released on Monday, Benzinga reports. The firm currently has an in-line rating on the real estate investment trust’s stock.

Several other brokerages also recently issued reports on PLD. The Goldman Sachs Group increased their price objective on shares of Prologis from $140.00 to $156.00 and gave the stock a buy rating in a research report on Thursday, July 25th. StockNews.com raised Prologis from a sell rating to a hold rating in a research note on Thursday, July 18th. Scotiabank upped their price objective on Prologis from $135.00 to $142.00 and gave the stock a sector outperform rating in a research report on Monday, August 26th. Mizuho dropped their target price on Prologis from $130.00 to $120.00 and set a neutral rating on the stock in a research report on Friday, May 31st. Finally, Morgan Stanley boosted their target price on Prologis from $132.00 to $133.00 and gave the company an overweight rating in a research note on Wednesday, August 14th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prologis presently has an average rating of Moderate Buy and an average target price of $133.35.

Prologis Stock Performance

PLD stock opened at $128.51 on Monday. Prologis has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm has a market cap of $118.98 billion, a PE ratio of 37.58, a P/E/G ratio of 3.36 and a beta of 1.07. The business’s 50-day moving average price is $125.38 and its two-hundred day moving average price is $118.80.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share 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 business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm earned $1.83 EPS. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. As a group, research analysts forecast that Prologis will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.96 per share. The ex-dividend date is Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 2.99%. Prologis’s dividend payout ratio is presently 112.28%.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a 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 hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new position in shares of Prologis in the fourth quarter valued at approximately $27,000. Optimum Investment Advisors acquired a new stake in Prologis during the 1st quarter worth approximately $26,000. Semmax Financial Advisors Inc. bought a new stake in Prologis in the 2nd quarter valued at $27,000. American Capital Advisory LLC acquired a new position in Prologis in the 2nd quarter valued at $26,000. Finally, Clear Investment Research LLC increased its position in Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares during the period. 93.50% of the stock is owned by institutional investors.

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.