Prologis (NYSE:PLD) Price Target Cut to $117.00 by Analysts at Robert W. Baird

Prologis (NYSE:PLD) had its price target cut by Robert W. Baird from $137.00 to $117.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts have also weighed in on the company. Mizuho restated a neutral rating and set a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Barclays lowered their price objective on Prologis from $135.00 to $123.00 and set an overweight rating for the company in a research note on Monday. UBS Group cut their target price on shares of Prologis from $151.00 to $138.00 and set a buy rating on the stock in a research report on Thursday, April 18th. TheStreet raised shares of Prologis from a c+ rating to a b- rating in a report on Friday, January 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of Prologis from $143.00 to $128.00 and set an overweight rating on the stock in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prologis presently has a consensus rating of Moderate Buy and a consensus price target of $132.35.

Prologis Stock Performance

Prologis stock opened at $101.84 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The stock has a market cap of $94.29 billion, a PE ratio of 29.78, a P/E/G ratio of 2.18 and a beta of 1.00. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The business’s 50-day moving average price is $123.24 and its two-hundred day moving average price is $121.78.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.77%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 112.28%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Valeo Financial Advisors LLC boosted its position in shares of Prologis by 182,067.2% during the 1st 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 purchasing an additional 48,850,448 shares in the last quarter. Norges Bank acquired a new stake in Prologis in the fourth quarter valued at approximately $1,074,648,000. Capital World Investors increased its holdings in shares of Prologis by 1,252.9% during 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 acquiring an additional 6,765,582 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Prologis during the third quarter worth approximately $185,164,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Prologis by 6.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after purchasing an additional 1,034,211 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Company Profile

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.