Argus Increases Prologis (NYSE:PLD) Price Target to $135.00

Prologis (NYSE:PLD) had its price objective upped by Argus from $120.00 to $135.00 in a report released on Tuesday morning, Benzinga reports. Argus currently has a buy rating on the real estate investment trust’s stock.

Several other research firms have also recently weighed in on PLD. Evercore ISI boosted their price objective on Prologis from $119.00 to $123.00 and gave the stock an in-line rating in a research report on Thursday, July 18th. BMO Capital Markets reissued a market perform rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. The Goldman Sachs Group lowered their target price on Prologis from $163.00 to $140.00 and set a buy rating for the company in a research note on Monday, April 22nd. UBS Group reduced their price target on Prologis from $151.00 to $138.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Finally, Royal Bank of Canada reduced their target price on Prologis from $145.00 to $124.00 and set an outperform rating on the stock in a report on Monday, May 6th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prologis presently has a consensus rating of Moderate Buy and an average target price of $129.67.

Prologis Price Performance

Shares of PLD opened at $122.68 on Tuesday. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52. The firm has a market cap of $113.58 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.91 and a beta of 1.06. The company has a current ratio of 0.10, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $113.37 and a 200-day moving average of $120.02.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm posted $1.83 EPS. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. As a group, analysts forecast that Prologis will post 5.42 EPS for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.13%. Prologis’s dividend payout ratio is 112.28%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PLD. Compagnie Lombard Odier SCmA bought a new stake in shares of Prologis during the 4th quarter worth $80,000. Salem Investment Counselors Inc. purchased a new position in shares of Prologis during the fourth quarter valued at about $37,000. Raymond James Financial Services Advisors Inc. boosted its stake in Prologis by 4.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 223,532 shares of the real estate investment trust’s stock worth $29,797,000 after acquiring an additional 9,180 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Prologis by 5.9% during the fourth quarter. Pacer Advisors Inc. now owns 317,850 shares of the real estate investment trust’s stock worth $42,369,000 after acquiring an additional 17,684 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its stake in Prologis by 91.5% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 605 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 289 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

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.