Royal Bank of Canada Lowers Prologis (NYSE:PLD) Price Target to $117.00

Prologis (NYSE:PLD - Free Report) had its price objective reduced by Royal Bank of Canada from $128.00 to $117.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust's stock.

Other equities research analysts also recently issued research reports about the company. Scotiabank restated a "sector underperform" rating and set a $97.00 price target (down previously from $133.00) on shares of Prologis in a research report on Monday, April 7th. BNP Paribas raised Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Finally, Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Prologis presently has an average rating of "Moderate Buy" and a consensus target price of $122.05.

Prologis Price Performance

Shares of PLD stock traded up $1.65 on Tuesday, reaching $104.73. The company's stock had a trading volume of 1,727,811 shares, compared to its average volume of 4,135,892. The stock's 50 day simple moving average is $108.03 and its 200-day simple moving average is $112.10. Prologis has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a market capitalization of $97.08 billion, a P/E ratio of 26.19, a PEG ratio of 2.70 and a beta of 1.20. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

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

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a $1.01 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.86%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is 101.00%.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.57% of the company's stock.

Institutional Investors Weigh In On Prologis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLD. REAP Financial Group LLC grew its position in shares of Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after buying an additional 84 shares during the period. Phoenix Financial Ltd. grew its holdings in Prologis by 1.0% in the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock worth $955,000 after purchasing an additional 86 shares during the period. Principle Wealth Partners LLC grew its holdings in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock worth $349,000 after purchasing an additional 92 shares during the period. Black Diamond Financial LLC increased its stake in shares of Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock valued at $449,000 after purchasing an additional 93 shares in the last quarter. Finally, Berkshire Bank lifted its holdings in shares of Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after purchasing an additional 95 shares during the last quarter. 93.50% of the stock is 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 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.