Prologis (NYSE:PLD) Price Target Cut to $135.00

Prologis (NYSE:PLD - Free Report) had its price target trimmed by Barclays from $141.00 to $135.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the real estate investment trust's stock.

PLD has been the topic of a number of other reports. TheStreet raised shares of Prologis from a c+ rating to a b- rating in a research note on Friday, January 26th. Mizuho reaffirmed a neutral rating and set a $130.00 price target on shares of Prologis in a research note on Tuesday, April 2nd. Raymond James upped their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a research note on Wednesday, January 24th. Royal Bank of Canada increased their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an outperform rating in a research note on Friday, February 16th. Finally, Robert W. Baird increased their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a neutral rating in a research note on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $141.27.

Prologis Stock Performance

Prologis stock traded down $8.25 during trading hours on Wednesday, reaching $106.49. 10,489,255 shares of the stock were exchanged, compared to its average volume of 3,355,902. The stock has a market cap of $98.51 billion, a P/E ratio of 32.37, a P/E/G ratio of 2.31 and a beta of 1.00. 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 52-week low of $96.64 and a 52-week high of $137.52. The firm's 50 day moving average is $129.44 and its 200 day moving average is $122.30.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly 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 return on equity of 5.29% and a net margin of 38.13%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company earned $1.24 earnings per share. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts predict 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 $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.61%. This is a positive change from Prologis's previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis's dividend payout ratio is 116.72%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLD. Cornerstone Wealth Group LLC purchased a new position in shares of Prologis during the 1st quarter worth about $207,000. River Street Advisors LLC lifted its holdings in shares of Prologis by 12.8% during the 1st quarter. River Street Advisors LLC now owns 2,178 shares of the real estate investment trust's stock worth $284,000 after acquiring an additional 247 shares during the period. Physician Wealth Advisors Inc. lifted its holdings in shares of Prologis by 11.4% during the 1st quarter. Physician Wealth Advisors Inc. now owns 1,885 shares of the real estate investment trust's stock worth $245,000 after acquiring an additional 193 shares during the period. Guidance Capital Inc. lifted its holdings in shares of Prologis by 9.0% during the 1st quarter. Guidance Capital Inc. now owns 4,898 shares of the real estate investment trust's stock worth $638,000 after acquiring an additional 403 shares during the period. Finally, Brown Miller Wealth Management LLC lifted its holdings in shares of Prologis by 157.2% during the 1st quarter. Brown Miller Wealth Management LLC now owns 13,207 shares of the real estate investment trust's stock worth $1,719,000 after acquiring an additional 8,072 shares during the period. 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.