Barclays Trims Prologis (NYSE:PLD) Target Price to $131.00

Prologis (NYSE:PLD) had its price target trimmed by Barclays from $142.00 to $131.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on the company. Argus increased their target price on Prologis from $120.00 to $135.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Evercore ISI increased their target price on Prologis from $124.00 to $128.00 and gave the company an in-line rating in a research note on Monday, September 16th. The Goldman Sachs Group increased their target price on Prologis from $140.00 to $156.00 and gave the company a buy rating in a research note on Thursday, July 25th. Morgan Stanley increased 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. Finally, Scotiabank increased their target price on Prologis from $135.00 to $142.00 and gave the company a sector outperform rating in a research note on Monday, August 26th. 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’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $132.71.

Prologis Stock Up 0.6 %

Shares of NYSE PLD traded up $0.68 during mid-day trading on Thursday, reaching $118.96. 371,615 shares of the company traded hands, compared to its average volume of 3,611,160. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $110.15 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company’s fifty day moving average is $125.30 and its two-hundred day moving average is $117.96. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s revenue was down 18.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 EPS. On average, analysts expect that Prologis will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.23%. Prologis’s dividend payout ratio is currently 126.73%.

Insider Transactions at Prologis

In other Prologis 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 transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Prologis

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after acquiring an additional 48,850,448 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after acquiring an additional 317,815 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after acquiring an additional 365,904 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Prologis by 1.4% in the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after acquiring an additional 167,131 shares during the last quarter. 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.