Scotiabank Cuts Prologis (NYSE:PLD) Price Target to $133.00

Prologis (NYSE:PLD) had its price target decreased by Scotiabank from $134.00 to $133.00 in a report released on Monday,Benzinga reports. Scotiabank currently has a sector outperform rating on the real estate investment trust’s stock.

PLD has been the subject of several other research reports. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Wolfe Research reduced their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Raymond James reiterated an “outperform” rating and set a $125.00 target price (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Finally, Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $128.72.

Prologis Price Performance

Shares of PLD opened at $119.35 on Monday. The company has a market capitalization of $110.53 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. Prologis has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm 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 quick ratio of 0.43 and a current ratio of 0.23.

Prologis Dividend Announcement

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

Institutional Trading of Prologis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Prologis by 534.7% during 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 purchasing an additional 8,545,336 shares during the period. Janus Henderson Group PLC increased its stake in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after buying an additional 2,138,693 shares during the period. AMF Tjanstepension AB lifted its stake in shares of Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Prologis by 547.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust’s stock valued at $116,129,000 after purchasing an additional 874,411 shares during the last quarter. Finally, Cardano Risk Management B.V. purchased a new position in Prologis in the third quarter valued at about $109,579,000. 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.