Prologis, Inc. (NYSE:PLD) Receives $120.42 Consensus Price Target from Analysts

Prologis, Inc. (NYSE:PLD - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $120.42.

PLD has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company decreased their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. BMO Capital Markets decreased their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Robert W. Baird decreased their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Wolfe Research cut Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st.

Prologis Price Performance

Shares of PLD stock traded down $0.51 during trading hours on Friday, hitting $108.51. 2,436,310 shares of the company's stock were exchanged, compared to its average volume of 4,152,761. The stock's 50-day moving average is $103.85 and its 200-day moving average is $110.52. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The stock has a market cap of $100.69 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Prologis has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. As a group, research analysts forecast that Prologis will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.

Institutional Investors Weigh In On Prologis

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Inspire Investing LLC raised its position in Prologis by 9.0% in the 1st quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust's stock valued at $10,129,000 after buying an additional 7,518 shares during the last quarter. Strs Ohio bought a new position in Prologis in the first quarter valued at approximately $98,308,000. Foresight Group Ltd Liability Partnership grew its stake in Prologis by 552.3% in the first quarter. Foresight Group Ltd Liability Partnership now owns 38,849 shares of the real estate investment trust's stock valued at $4,290,000 after purchasing an additional 32,893 shares in the last quarter. Advisors Capital Management LLC grew its stake in Prologis by 4.8% in the first quarter. Advisors Capital Management LLC now owns 216,727 shares of the real estate investment trust's stock valued at $24,228,000 after purchasing an additional 9,986 shares in the last quarter. Finally, Acorns Advisers LLC grew its stake in Prologis by 24.1% in the first quarter. Acorns Advisers LLC now owns 2,464 shares of the real estate investment trust's stock valued at $275,000 after purchasing an additional 479 shares in the last quarter. Institutional investors and hedge funds 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 March 31, 2024, 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.