Analysts Set Prologis, Inc. (NYSE:PLD) Price Target at $128.78

Shares of Prologis, Inc. (NYSE:PLD) have received an average recommendation of “Moderate Buy” from the twenty brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $128.78.

A number of research firms recently commented on PLD. Mizuho dropped their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada upped their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. BMO Capital Markets cut 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. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th.

Prologis Trading Up 1.6 %

NYSE PLD opened at $122.69 on Friday. The stock has a market capitalization of $113.72 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.70 and a beta of 1.10. 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 $113.07 and its two-hundred day moving average price is $117.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.29%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is presently 101.00%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Prologis

Several institutional investors have recently added to or reduced their stakes in PLD. AMF Tjanstepension AB increased its holdings in Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the period. Sequoia Financial Advisors LLC raised its stake in Prologis by 37.8% in the third quarter. Sequoia Financial Advisors LLC now owns 14,330 shares of the real estate investment trust’s stock worth $1,810,000 after buying an additional 3,929 shares in the last quarter. Segment Wealth Management LLC grew its holdings in shares of Prologis by 32.7% during the 3rd quarter. Segment Wealth Management LLC now owns 5,757 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 1,418 shares during the period. Lecap Asset Management Ltd. purchased a new stake in Prologis in the third quarter worth $357,000. Finally, Greenleaf Trust increased its stake in shares of Prologis by 2.5% in the 3rd quarter. Greenleaf Trust now owns 20,464 shares of the real estate investment trust’s stock worth $2,584,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.