Prologis, Inc. (NYSE:PLD) Receives $120.47 Consensus PT from Analysts

Shares of Prologis, Inc. (NYSE:PLD - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $120.47.

PLD has been the topic of a number of research analyst reports. Evercore ISI cut their target price on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Truist Financial lowered their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Finally, Robert W. Baird lowered their price target on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th.

Institutional Investors Weigh In On Prologis

Institutional investors have recently bought and sold shares of the business. Aviva PLC lifted its position in shares of Prologis by 36.6% in the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock worth $73,481,000 after buying an additional 186,187 shares during the last quarter. Alley Investment Management Company LLC increased its holdings in shares of Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after acquiring an additional 54,914 shares during the period. Allstate Corp increased its holdings in shares of Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock worth $7,877,000 after acquiring an additional 39,321 shares during the period. First Citizens Bank & Trust Co. increased its holdings in shares of Prologis by 1,451.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock worth $3,486,000 after acquiring an additional 29,170 shares during the period. Finally, Truist Financial Corp increased its holdings in shares of Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after acquiring an additional 25,229 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Up 0.9%

NYSE PLD traded up $0.95 on Monday, reaching $107.73. The company had a trading volume of 3,837,661 shares, compared to its average volume of 4,212,763. The stock's 50 day moving average is $107.49 and its 200-day moving average is $109.68. The stock has a market cap of $99.97 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.69 and a beta of 1.23. The company has a quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60. Prologis has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the previous year, the firm earned $1.34 earnings per share. The company's revenue was up 8.8% on a year-over-year basis. Equities analysts predict that Prologis will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio is currently 109.49%.

Prologis Company Profile

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.