Prologis (NYSE:PLD) Price Target Raised to $156.00

Prologis (NYSE:PLD) had its price target increased by The Goldman Sachs Group from $140.00 to $156.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on PLD. Argus increased their price target on Prologis from $120.00 to $135.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Mizuho decreased their price target on Prologis from $130.00 to $120.00 and set a neutral rating for the company in a research report on Friday, May 31st. Robert W. Baird decreased their target price on Prologis from $137.00 to $117.00 and set a neutral rating for the company in a research report on Wednesday, May 1st. BMO Capital Markets reissued a market perform rating and issued a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Finally, Barclays decreased their price objective on Prologis from $135.00 to $123.00 and set an overweight rating on the stock in a research note on Monday, April 29th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $129.67.

Prologis Trading Up 1.9 %

Shares of PLD stock opened at $122.68 on Thursday. The stock has a market cap of $113.58 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.90 and a beta of 1.06. The stock has a 50-day moving average of $113.37 and a 200-day moving average of $119.83. The company has a current ratio of 0.10, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. Prologis has a 1-year low of $96.64 and a 1-year 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 the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. 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 previous year, the company posted $1.83 EPS. The company’s quarterly revenue was down 18.1% on a year-over-year basis. On average, equities research analysts forecast that Prologis will post 5.43 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio is currently 112.28%.

Hedge Funds Weigh In On Prologis

Several hedge funds and other institutional investors have recently modified their holdings of PLD. Vanguard Group Inc. grew its holdings in Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC grew its holdings in Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after purchasing an additional 365,904 shares during the period. Principal Financial Group Inc. grew its holdings in Prologis by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after purchasing an additional 123,902 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Prologis by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock worth $1,268,992,000 after purchasing an additional 175,276 shares during the period. 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.