Analysts Set Prologis, Inc. (NYSE:PLD) Target Price at $128.88

Shares of Prologis, Inc. (NYSE:PLD) have been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $128.88.

A number of equities analysts have weighed in on PLD shares. Scotiabank lowered their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. dropped their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st.

Prologis Price Performance

Shares of NYSE PLD opened at $105.63 on Thursday. The firm has a market cap of $97.83 billion, a P/E ratio of 31.91, a P/E/G ratio of 3.27 and a beta of 1.07. The business’s 50 day moving average price is $111.89 and its 200 day moving average price is $118.54. Prologis has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last announced its quarterly earnings results 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). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 EPS. On average, sell-side analysts expect that Prologis will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Institutional Investors Weigh In On Prologis

Institutional investors have recently bought and sold shares of the business. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter valued at $27,000. Dunhill Financial LLC lifted its stake in shares of 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 purchasing an additional 182 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis in the second quarter valued at about $31,000. Finally, Hara Capital LLC purchased a new stake in shares of Prologis during the 3rd quarter valued at about $48,000. 93.50% of the stock is currently owned by hedge funds and other 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.