Prologis (NYSE:PLD) Given New $128.00 Price Target at Wolfe Research

Prologis (NYSE:PLD) had its price target cut by Wolfe Research from $135.00 to $128.00 in a report issued on Friday. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on PLD. Raymond James reaffirmed an “outperform” rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. Barclays boosted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. cut their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Finally, Truist Financial dropped their target price on Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Stock Performance

PLD stock opened at $109.51 on Friday. Prologis has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market cap of $101.43 billion, a PE ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09. The business’s 50-day moving average price is $110.47 and its two-hundred day moving average price is $118.31.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm earned $1.30 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts forecast that Prologis will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.51%. Prologis’s dividend payout ratio is 116.01%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PLD. Semmax Financial Advisors Inc. bought a new position in Prologis during the second quarter worth $27,000. Sunbelt Securities Inc. raised its holdings in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Dunhill Financial LLC lifted its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. Hara Capital LLC bought a new stake in shares of Prologis during the third quarter worth approximately $48,000. Finally, Coastline Trust Co bought a new position in shares of Prologis during the third quarter worth approximately $52,000. 93.50% of the stock is currently 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.