Prologis (NYSE:PLD) Price Target Lowered to $121.00 at Truist Financial

Prologis (NYSE:PLD) had its price objective cut by Truist Financial from $132.00 to $121.00 in a report issued on Friday morning. They currently have a buy rating on the real estate investment trust’s stock.

A number of other research firms have also recently weighed in on PLD. Barclays upped their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Scotiabank lowered their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. Mizuho reduced their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $124.00 to $123.00 in a research note on Monday, January 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $125.00 price objective (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Price Performance

Shares of PLD opened at $109.51 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $110.47 and its two-hundred day moving average is $118.31. Prologis has a twelve month low of $100.82 and a twelve month high of $135.76. The firm has a market capitalization of $101.43 billion, a PE ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. Research analysts anticipate that Prologis will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.51%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Institutional Investors Weigh In On Prologis

Several hedge funds have recently made changes to their positions in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Prologis by 534.7% in the third 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 valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after buying an additional 2,138,693 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Prologis during the 2nd quarter valued at about $203,223,000. AMF Tjanstepension AB lifted its holdings in shares of Prologis by 267.9% during the 3rd 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 during the period. Finally, 1832 Asset Management L.P. boosted its position in shares of Prologis by 137.7% in the second quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock worth $208,518,000 after acquiring an additional 1,075,614 shares during the last quarter. Institutional investors and hedge funds 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.