Prologis (NYSE:PLD) PT Lowered to $117.00 at Robert W. Baird

Prologis (NYSE:PLD) had its price target decreased by Robert W. Baird from $137.00 to $117.00 in a research note released on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the real estate investment trust’s stock.

A number of other brokerages also recently commented on PLD. UBS Group lowered their price target on shares of Prologis from $151.00 to $138.00 and set a buy rating for the company in a report on Thursday, April 18th. Raymond James boosted their price target on Prologis from $130.00 to $145.00 and gave the company a strong-buy rating in a report on Wednesday, January 24th. Evercore ISI reduced their price target on Prologis from $136.00 to $123.00 and set an in-line rating on the stock in a research note on Thursday, April 18th. Argus lowered their price objective on Prologis from $139.00 to $120.00 and set a buy rating for the company in a research report on Monday, April 22nd. Finally, Morgan Stanley upped their target price on Prologis from $128.00 to $141.00 and gave the company an overweight rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis currently has an average rating of Moderate Buy and an average price target of $132.35.

Prologis Stock Up 1.3 %

PLD opened at $105.85 on Wednesday. The firm has a market cap of $98.00 billion, a P/E ratio of 30.95, a PEG ratio of 2.12 and a beta of 1.05. The business’s fifty day simple moving average is $122.66 and its 200 day simple moving average is $121.66. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.63%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is 112.28%.

Hedge Funds Weigh In On Prologis

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Valeo Financial Advisors LLC boosted its stake in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Norges Bank purchased a new stake in shares of Prologis during the fourth quarter worth about $1,074,648,000. Capital World Investors boosted its holdings in Prologis by 1,252.9% in the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after purchasing an additional 6,765,582 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Prologis during the 3rd quarter valued at approximately $185,164,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Prologis by 6.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after purchasing an additional 1,034,211 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.