Prologis (NYSE:PLD) Price Target Cut to $140.00 by Analysts at The Goldman Sachs Group

Prologis (NYSE:PLD) had its price target reduced by The Goldman Sachs Group from $163.00 to $140.00 in a research note issued to investors on Monday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the real estate investment trust’s stock.

PLD has been the topic of several other research reports. UBS Group dropped their price target on Prologis from $151.00 to $138.00 and set a buy rating on the stock in a research note on Thursday, April 18th. BMO Capital Markets lowered shares of Prologis from an outperform rating to a market perform rating and reduced their price target for the stock from $145.00 to $112.00 in a research report on Monday. Morgan Stanley upped their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Robert W. Baird raised their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a report on Tuesday, January 23rd. Finally, Evercore ISI cut their price target on Prologis from $136.00 to $123.00 and set an in-line rating on the stock in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $135.41.

Prologis Trading Up 0.6 %

NYSE PLD opened at $104.06 on Monday. The stock has a market cap of $96.26 billion, a P/E ratio of 30.43, a P/E/G ratio of 2.08 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a fifty day simple moving average of $127.31 and a two-hundred day simple moving average of $122.19.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.69%. Prologis’s payout ratio is 112.28%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Park Place Capital Corp increased its stake in shares of Prologis by 113.8% during the third quarter. Park Place Capital Corp now owns 10,275 shares of the real estate investment trust’s stock worth $1,153,000 after purchasing an additional 5,468 shares in the last quarter. BTC Capital Management Inc. increased its stake in Prologis by 1.8% during the 3rd quarter. BTC Capital Management Inc. now owns 61,945 shares of the real estate investment trust’s stock worth $6,951,000 after buying an additional 1,106 shares in the last quarter. Brown Miller Wealth Management LLC raised its holdings in shares of Prologis by 11.8% during the third quarter. Brown Miller Wealth Management LLC now owns 12,841 shares of the real estate investment trust’s stock valued at $1,440,000 after acquiring an additional 1,359 shares during the last quarter. B.O.S.S. Retirement Advisors LLC lifted its position in shares of Prologis by 13.1% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 19,727 shares of the real estate investment trust’s stock valued at $2,214,000 after acquiring an additional 2,290 shares in the last quarter. Finally, Strategic Blueprint LLC boosted its stake in shares of Prologis by 7.4% in the third quarter. Strategic Blueprint LLC now owns 2,041 shares of the real estate investment trust’s stock worth $229,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Company Profile

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.