Prologis (NYSE:PLD) Price Target Raised to $128.00

Prologis (NYSE:PLD) had its target price boosted by Royal Bank of Canada from $125.00 to $128.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on PLD. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Raymond James restated an “outperform” rating and issued a $125.00 price target (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Finally, Wolfe Research lowered their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have given 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 an average price target of $128.72.

Prologis Stock Down 0.7 %

Shares of PLD opened at $119.35 on Monday. The company has a market cap of $110.53 billion, a PE ratio of 29.84, a P/E/G ratio of 3.19 and a beta of 1.09. The business has a fifty day moving average of $110.73 and a 200 day moving average of $118.41. Prologis has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. Prologis’s dividend payout ratio is currently 96.00%.

Hedge Funds Weigh In On Prologis

Institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. increased its stake in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the period. Dunhill Financial LLC increased its stake in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the period. Hara Capital LLC bought a new stake in Prologis during the third quarter valued at about $48,000. Coastline Trust Co bought a new stake in Prologis during the third quarter valued at about $52,000. Finally, Fortitude Family Office LLC boosted its position in Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares in 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.