Prologis (NYSE:PLD) Given New $138.00 Price Target at UBS Group

Prologis (NYSE:PLDFree Report) had its price objective lowered by UBS Group from $151.00 to $138.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently issued reports on PLD. Royal Bank of Canada increased their target price on Prologis from $128.00 to $145.00 and gave the stock an outperform rating in a report on Friday, February 16th. Evercore ISI dropped their target price on Prologis from $136.00 to $123.00 and set an in-line rating for the company in a report on Thursday. Mizuho reaffirmed a neutral rating and set a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. Barclays dropped their price target on Prologis from $141.00 to $135.00 and set an overweight rating for the company in a report on Wednesday, April 17th. Finally, TheStreet raised Prologis from a c+ rating to a b- rating in a report on Friday, January 26th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of Moderate Buy and a consensus target price of $137.86.

View Our Latest Research Report on PLD

Prologis Trading Down 1.1 %

Shares of PLD opened at $103.49 on Thursday. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $127.87 and a 200-day simple moving average of $122.22. The stock has a market cap of $95.73 billion, a PE ratio of 30.26, a PEG ratio of 2.08 and a beta of 1.00.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC lifted its holdings in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares in the last quarter. Norges Bank bought a new stake in shares of Prologis in the fourth quarter valued at about $980,759,000. Capital World Investors lifted its holdings in shares of 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 in the last quarter. Morgan Stanley increased its position in shares of Prologis by 48.0% in the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after acquiring an additional 4,729,040 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC acquired a new stake in shares of Prologis in the fourth quarter valued at about $232,205,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Company Profile

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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.

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Analyst Recommendations for Prologis (NYSE:PLD)

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