UBS Group Boosts Prologis (NYSE:PLD) Price Target to $137.00

Prologis (NYSE:PLD) had its target price hoisted by UBS Group from $121.00 to $137.00 in a research note issued to investors on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the company. Scotiabank cut their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, Barclays upped their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Trading Up 1.3 %

Prologis stock opened at $120.66 on Tuesday. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market cap of $111.75 billion, a PE ratio of 30.17, a P/E/G ratio of 3.19 and a beta of 1.09. The stock’s 50 day simple moving average is $110.83 and its two-hundred day simple moving average is $118.42. Prologis has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 96.00%.

Institutional Investors Weigh In On Prologis

A number of large investors have recently added to or reduced their stakes in the business. Empirical Asset Management LLC lifted 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 valued at $7,249,000 after buying an additional 52,963 shares in the last quarter. Sunflower Bank N.A. acquired a new position in shares of Prologis in the third quarter worth $249,000. Cardano Risk Management B.V. lifted its position in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after acquiring an additional 25,266 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new stake in shares of Prologis during the second quarter valued at $878,000. Finally, DekaBank Deutsche Girozentrale increased its position in Prologis by 2.5% during 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 in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.