Prologis (NYSE:PLD) Stock Price Expected to Rise, UBS Group Analyst Says

Prologis (NYSE:PLD) had its price objective hoisted by UBS Group from $121.00 to $137.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on PLD. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $120.00 to $104.00 in a report on Friday, December 6th. Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.72.

Prologis Stock Down 0.8 %

PLD stock opened at $120.23 on Tuesday. The firm’s 50-day moving average is $110.63 and its two-hundred day moving average is $118.41. The company has a market capitalization of $111.35 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 3.19 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 current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. Prologis’s payout ratio is 96.00%.

Institutional Investors Weigh In On Prologis

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Private Wealth Services LLC increased its holdings in Prologis by 43.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 50,322 shares of the real estate investment trust’s stock worth $5,319,000 after buying an additional 15,231 shares during the last quarter. Empowered Funds LLC grew its position in Prologis by 14.5% in the fourth quarter. Empowered Funds LLC now owns 39,797 shares of the real estate investment trust’s stock worth $4,207,000 after acquiring an additional 5,042 shares in the last quarter. Forbes J M & Co. LLP increased its stake in shares of Prologis by 0.4% during the 4th quarter. Forbes J M & Co. LLP now owns 58,080 shares of the real estate investment trust’s stock worth $6,139,000 after purchasing an additional 213 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Prologis by 34.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 14,341 shares of the real estate investment trust’s stock valued at $1,516,000 after purchasing an additional 3,667 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in shares of Prologis by 2.1% in the 4th quarter. Apollon Wealth Management LLC now owns 18,152 shares of the real estate investment trust’s stock valued at $1,919,000 after purchasing an additional 380 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Company Profile

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.