Prologis (NYSE:PLD) Price Target Lowered to $135.00 at Barclays

Prologis (NYSE:PLD) had its target price reduced by Barclays from $141.00 to $135.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the company. TheStreet raised Prologis from a c+ rating to a b- rating in a research note on Friday, January 26th. Raymond James boosted their target price on Prologis from $130.00 to $145.00 and gave the company a strong-buy rating in a research note on Wednesday, January 24th. Evercore ISI reissued an in-line rating and issued a $136.00 target price on shares of Prologis in a research note on Monday, March 18th. Royal Bank of Canada boosted their price target on Prologis from $128.00 to $145.00 and gave the company an outperform rating in a report on Friday, February 16th. Finally, Morgan Stanley boosted their price target on Prologis from $128.00 to $141.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prologis presently has a consensus rating of Moderate Buy and a consensus target price of $141.27.

Prologis Trading Down 7.2 %

Shares of PLD stock opened at $106.49 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $128.99 and a two-hundred day moving average price of $122.19. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The firm has a market cap of $98.51 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 2.31 and a beta of 1.00.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $1.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Equities analysts anticipate that Prologis will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.61%. Prologis’s dividend payout ratio is 116.72%.

Institutional Trading of Prologis

Hedge funds and other institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC purchased a new stake in shares of Prologis in the 4th quarter worth approximately $27,000. Optimum Investment Advisors purchased a new stake in shares of Prologis in the 1st quarter worth approximately $26,000. Thompson Investment Management Inc. purchased a new stake in shares of Prologis in the 4th quarter worth approximately $28,000. JFS Wealth Advisors LLC grew its stake in shares of Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares during the last quarter. Finally, Clear Investment Research LLC grew its stake in shares of Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares during the last quarter. Hedge funds and other institutional investors 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 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.