Analysts Set Prologis, Inc. (NYSE:PLD) Target Price at $128.78

Prologis, Inc. (NYSE:PLD) has earned a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $128.78.

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank reduced their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Finally, Mizuho lowered their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th.

Prologis Trading Down 0.9 %

PLD opened at $112.01 on Tuesday. Prologis has a 12-month low of $100.82 and a 12-month high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The stock has a market capitalization of $103.81 billion, a PE ratio of 28.00, a P/E/G ratio of 2.70 and a beta of 1.09. The firm’s fifty day moving average price is $117.44 and its 200 day moving average price is $117.21.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.61%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Prologis

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis in the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. bought a new position in shares of Prologis in the fourth quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis during the 4th quarter valued at $30,000. REAP Financial Group LLC boosted its stake in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 84 shares in the last quarter. Finally, Dunhill Financial LLC grew its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.