Prologis (NYSE:PLD) Price Target Raised to $123.00

Prologis (NYSE:PLD) had its price objective lifted by Evercore ISI from $119.00 to $123.00 in a research note published on Thursday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group lowered their price target on Prologis from $163.00 to $140.00 and set a buy rating for the company in a research report on Monday, April 22nd. JPMorgan Chase & Co. lowered their price target on Prologis from $143.00 to $128.00 and set an overweight rating for the company in a research report on Thursday, April 25th. Barclays lowered their price target on Prologis from $135.00 to $123.00 and set an overweight rating for the company in a research report on Monday, April 29th. Royal Bank of Canada lowered their price target on Prologis from $145.00 to $124.00 and set an outperform rating for the company in a research report on Monday, May 6th. Finally, Robert W. Baird lowered their price target on Prologis from $137.00 to $117.00 and set a neutral rating for the company in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $127.60.

Prologis Stock Performance

Shares of Prologis stock opened at $123.75 on Thursday. The company has a current ratio of 0.10, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $114.57 billion, a P/E ratio of 36.18, a P/E/G ratio of 2.93 and a beta of 1.06. The business has a fifty day simple moving average of $111.97 and a two-hundred day simple moving average of $120.13. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 EPS. On average, equities analysts forecast that Prologis will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.10%. Prologis’s dividend payout ratio is currently 112.28%.

Institutional Investors Weigh In On Prologis

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after purchasing an additional 365,904 shares during the period. Principal Financial Group Inc. grew its stake in shares of Prologis by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after purchasing an additional 123,902 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Prologis by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after purchasing an additional 175,276 shares during the period. 93.50% of the stock is currently owned by institutional investors.

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.