Truist Financial Issues Pessimistic Forecast for Prologis (NYSE:PLD) Stock Price

Prologis (NYSE:PLD) had its price target reduced by Truist Financial from $132.00 to $121.00 in a research note published on Friday. They currently have a buy rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. lowered their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Raymond James reissued an “outperform” rating and issued a $125.00 price target (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.67.

Prologis Price Performance

Prologis stock opened at $109.51 on Friday. The stock has a market capitalization of $101.43 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. Prologis has a 52-week low of $100.82 and a 52-week high of $135.76. The stock’s 50 day moving average price is $110.34 and its two-hundred day moving average price is $118.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Empirical Asset Management LLC boosted its stake in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares during the period. Sunflower Bank N.A. bought a new position in Prologis in the 3rd quarter worth about $249,000. Cardano Risk Management B.V. boosted its stake in Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares during the period. Coronation Fund Managers Ltd. bought a new position in Prologis in the 2nd quarter worth about $878,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after purchasing an additional 29,400 shares during the period. Institutional investors own 93.50% of the company’s stock.

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.