Brokerages Set Prologis, Inc. (NYSE:PLD) PT at $128.67

Prologis, Inc. (NYSE:PLD) has been assigned an average recommendation of “Moderate Buy” from the twenty analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $128.78.

A number of equities analysts have recently commented on the company. UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday. Mizuho reduced their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Barclays lifted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Truist Financial upped their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Raymond James reaffirmed an “outperform” rating and set a $125.00 target price (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th.

Institutional Investors Weigh In On Prologis

Large investors have recently bought and sold shares of the company. Empirical Asset Management LLC boosted its holdings in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Sunflower Bank N.A. purchased a new stake in Prologis in the 3rd quarter worth approximately $249,000. Cardano Risk Management B.V. grew its stake in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares during the period. Coronation Fund Managers Ltd. purchased a new position in shares of Prologis during the 2nd quarter valued at approximately $878,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Prologis by 2.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after purchasing an additional 29,400 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE:PLD opened at $119.14 on Monday. The stock has a market capitalization of $110.34 billion, a P/E ratio of 29.78, a PEG ratio of 2.66 and a beta of 1.09. Prologis has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $110.96 and a two-hundred day simple moving average of $118.44.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is 96.00%.

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.