Prologis (NYSE:PLD) Given New $138.00 Price Target at UBS Group

Prologis (NYSE:PLD) had its target price lowered by UBS Group from $151.00 to $138.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an outperform rating in a research note on Friday, February 16th. Raymond James increased their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a report on Wednesday, January 24th. TheStreet raised shares of Prologis from a c+ rating to a b- rating in a report on Friday, January 26th. Evercore ISI cut their price objective on Prologis from $136.00 to $123.00 and set an in-line rating for the company in a report on Thursday. Finally, Mizuho reiterated a neutral rating and set a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has a consensus rating of Moderate Buy and an average price target of $140.00.

Prologis Price Performance

Shares of NYSE PLD opened at $104.67 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The stock has a market cap of $96.82 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.29 and a beta of 1.00. The stock has a fifty day moving average of $128.45 and a 200-day moving average of $122.07.

Prologis (NYSE:PLD) last posted 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 for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm earned $1.24 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Prologis will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 116.72%.

Institutional Trading of Prologis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Naviter Wealth LLC lifted its position in Prologis by 14.3% during the 1st quarter. Naviter Wealth LLC now owns 68,765 shares of the real estate investment trust’s stock valued at $8,955,000 after acquiring an additional 8,599 shares during the period. InTrack Investment Management Inc lifted its holdings in shares of Prologis by 36.9% during the first quarter. InTrack Investment Management Inc now owns 6,028 shares of the real estate investment trust’s stock valued at $785,000 after purchasing an additional 1,626 shares during the last quarter. Cullinan Associates Inc. boosted its position in shares of Prologis by 197.2% in the 1st quarter. Cullinan Associates Inc. now owns 91,951 shares of the real estate investment trust’s stock worth $11,974,000 after purchasing an additional 61,010 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Prologis by 38.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,099,029 shares of the real estate investment trust’s stock valued at $143,116,000 after buying an additional 302,725 shares in the last quarter. Finally, Colton Groome Financial Advisors LLC raised its stake in Prologis by 1.3% during the first quarter. Colton Groome Financial Advisors LLC now owns 11,047 shares of the real estate investment trust’s stock valued at $1,439,000 after buying an additional 137 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.