Morgan Stanley Cuts Prologis (NYSE:PLD) Price Target to $120.00

Prologis (NYSE:PLD) had its target price decreased by Morgan Stanley to $120.00 in a research note published on Monday. Morgan Stanley currently has an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the stock. BTIG Research dropped their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada upped their price objective 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. Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.32.

Prologis Stock Performance

Shares of Prologis stock traded up $1.69 during trading hours on Monday, reaching $101.98. The company’s stock had a trading volume of 4,098,251 shares, compared to its average volume of 4,175,148. The stock has a market cap of $94.53 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. Prologis has a one year low of $85.35 and a one year high of $132.57. The company’s 50 day simple moving average is $112.19 and its 200 day simple moving average is $113.59. 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 (NYSE:PLD) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, analysts expect that Prologis will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.96%. The ex-dividend date was Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 101.00%.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Prologis

Several institutional investors have recently made changes to their positions in the company. Empirical Asset Management LLC lifted its stake in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. lifted its stake in shares of 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 valued at $94,391,000 after purchasing an additional 25,266 shares during the last quarter. Aviva PLC boosted its holdings in Prologis by 36.6% in the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock worth $73,481,000 after purchasing an additional 186,187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after buying an additional 179,880 shares during the last quarter. Finally, Allstate Corp raised its holdings in Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock valued at $7,877,000 after buying an additional 39,321 shares in the last quarter. 93.50% of the stock is currently 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.