Argus Trims Prologis (NYSE:PLD) Target Price to $120.00

Prologis (NYSE:PLD) had its price target decreased by Argus from $139.00 to $120.00 in a research report report published on Monday morning, Benzinga reports. Argus currently has a buy rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on PLD. Mizuho reaffirmed a neutral rating and set a $130.00 price target on shares of Prologis in a research report on Tuesday, April 2nd. Raymond James increased their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a research report on Wednesday, January 24th. Royal Bank of Canada increased their price target on shares of Prologis from $128.00 to $145.00 and gave the stock an outperform rating in a research report on Friday, February 16th. Robert W. Baird increased their price target on shares of Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a research report on Tuesday, January 23rd. Finally, UBS Group cut their target price on shares of Prologis from $151.00 to $138.00 and set a buy rating on the stock in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis has a consensus rating of Moderate Buy and a consensus price target of $135.41.

Prologis Stock Down 1.6 %

Shares of Prologis stock opened at $103.18 on Monday. The business has a 50-day moving average of $126.24 and a 200-day moving average of $122.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The company has a market capitalization of $95.45 billion, a PE ratio of 30.17, a P/E/G ratio of 2.10 and a beta of 1.00. Prologis has a 1-year low of $96.64 and a 1-year high of $137.52.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Optimum Investment Advisors acquired a new position in shares of Prologis during the first quarter valued at approximately $26,000. True Wealth Design LLC acquired a new position in shares of Prologis during the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new position in shares of Prologis during the fourth quarter valued at approximately $28,000. FinTrust Capital Advisors LLC increased its stake in shares of Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 232 shares during the period. Finally, JFS Wealth Advisors LLC increased its stake in shares of Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares during the period. Institutional investors and hedge funds 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 December 31, 2023, 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.