Prologis (NYSE:PLD) PT Raised to $142.00

Prologis (NYSE:PLD) had its price target raised by Barclays from $123.00 to $142.00 in a report published on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

A number of other analysts also recently commented on the company. The Goldman Sachs Group boosted their price objective on Prologis from $140.00 to $156.00 and gave the stock a buy rating in a research note on Thursday, July 25th. StockNews.com raised shares of Prologis from a sell rating to a hold rating in a report on Thursday, July 18th. Robert W. Baird lowered their price objective on shares of Prologis from $137.00 to $117.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. cut their target price on shares of Prologis from $143.00 to $128.00 and set an overweight rating for the company in a research note on Thursday, April 25th. Finally, Scotiabank decreased their price target on shares of Prologis from $149.00 to $130.00 and set a sector outperform rating on the stock in a research report on Thursday, May 16th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $130.93.

Prologis Stock Performance

Shares of PLD opened at $127.75 on Tuesday. The firm has a market capitalization of $118.29 billion, a PE ratio of 37.35, a P/E/G ratio of 2.98 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $114.70 and a 200 day moving average price of $119.84. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $1.83 earnings per share. The company’s revenue was down 18.1% on a year-over-year basis. On average, sell-side analysts anticipate that Prologis will post 5.43 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.01%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio is currently 112.28%.

Hedge Funds Weigh In On Prologis

Several institutional investors and hedge funds have recently bought and sold shares of PLD. Optimum Investment Advisors acquired a new stake in shares of Prologis during the first quarter worth approximately $26,000. American Capital Advisory LLC acquired a new stake in shares of Prologis during the 2nd quarter valued at $26,000. True Wealth Design LLC acquired a new position in shares of Prologis in the fourth quarter worth $27,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis during the second quarter worth $29,000. Finally, JFS Wealth Advisors LLC boosted its position in Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.