Truist Financial Forecasts Strong Price Appreciation for Prologis (NYSE:PLD) Stock

Prologis (NYSE:PLD) had its target price increased by Truist Financial from $121.00 to $123.00 in a report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Several other research firms also recently issued reports on PLD. Wolfe Research dropped their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Raymond James reaffirmed an “outperform” rating and set a $125.00 target price (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.72.

Prologis Stock Down 0.7 %

Shares of NYSE PLD opened at $119.35 on Monday. The company has a 50 day simple moving average of $110.73 and a 200 day simple moving average of $118.41. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. Prologis has a 1 year low of $100.82 and a 1 year high of $135.76. The firm has a market cap of $110.53 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.22%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Hedge Funds Weigh In On Prologis

A number of large investors have recently modified their holdings of the company. State Street Corp increased its stake in Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after purchasing an additional 767,609 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after buying an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after acquiring an additional 441,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after acquiring an additional 8,545,336 shares during the last quarter. Finally, Swedbank AB lifted its position in Prologis by 1.8% in the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock valued at $486,514,000 after acquiring an additional 80,575 shares in the last quarter. 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.