Prologis (NYSE:PLD) Price Target Raised to $121.00 at BTIG Research

Prologis (NYSE:PLD) had its price target boosted by BTIG Research from $117.00 to $121.00 in a research report released on Thursday, Benzinga reports. BTIG Research currently has a buy rating on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on PLD. TheStreet downgraded Prologis from a b rating to a c+ rating in a research note on Friday, March 19th. Zacks Investment Research cut Prologis from a buy rating to a hold rating and set a $122.00 price target on the stock. in a report on Wednesday. Raymond James initiated coverage on Prologis in a report on Friday, April 16th. They set a strong-buy rating and a $125.00 price target on the stock. Finally, Evercore ISI raised Prologis from an in-line rating to an outperform rating and set a $121.00 price target on the stock in a report on Wednesday, January 27th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $116.00.

NYSE:PLD traded up $0.49 during mid-day trading on Thursday, hitting $115.17. The company had a trading volume of 12,538 shares, compared to its average volume of 2,858,173. The firm has a market capitalization of $85.20 billion, a price-to-earnings ratio of 50.93, a PEG ratio of 3.41 and a beta of 0.80. Prologis has a 1 year low of $80.12 and a 1 year high of $115.86. The business has a fifty day simple moving average of $105.38 and a 200-day simple moving average of $102.35. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Prologis (NYSE:PLD) last issued its earnings results on Sunday, April 18th. The real estate investment trust reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.08. Prologis had a return on equity of 4.67% and a net margin of 38.21%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $992.53 million. During the same period in the previous year, the firm posted $0.83 earnings per share. Prologis’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, research analysts anticipate that Prologis will post 3.77 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Friday, March 19th were paid a $0.63 dividend. The ex-dividend date was Thursday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.58. This represents a $2.52 dividend on an annualized basis and a yield of 2.19%. Prologis’s payout ratio is 76.13%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Garrison Asset Management LLC lifted its stake in Prologis by 3.5% in the first quarter. Garrison Asset Management LLC now owns 3,109 shares of the real estate investment trust’s stock valued at $330,000 after acquiring an additional 104 shares during the last quarter. Symphony Financial Ltd. Co. raised its position in shares of Prologis by 2.4% in the fourth quarter. Symphony Financial Ltd. Co. now owns 4,537 shares of the real estate investment trust’s stock valued at $436,000 after purchasing an additional 107 shares during the period. Arthur M. Cohen & Associates LLC raised its position in shares of Prologis by 0.8% in the first quarter. Arthur M. Cohen & Associates LLC now owns 12,908 shares of the real estate investment trust’s stock valued at $1,368,000 after purchasing an additional 108 shares during the period. Reynders McVeigh Capital Management LLC raised its position in shares of Prologis by 2.9% in the fourth quarter. Reynders McVeigh Capital Management LLC now owns 4,263 shares of the real estate investment trust’s stock valued at $425,000 after purchasing an additional 121 shares during the period. Finally, Bourgeon Capital Management LLC raised its position in shares of Prologis by 0.3% in the fourth quarter. Bourgeon Capital Management LLC now owns 47,786 shares of the real estate investment trust’s stock valued at $4,762,000 after purchasing an additional 124 shares during the period. Hedge funds and other institutional investors own 94.07% 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. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

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Analyst Recommendations for Prologis (NYSE:PLD)

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