Brokerages Set Prologis, Inc. (NYSE:PLD) Price Target at $134.24

Shares of Prologis, Inc. (NYSE:PLD) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $132.35.

Several analysts have issued reports on the company. Evercore ISI lowered their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. UBS Group dropped their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Robert W. Baird cut their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday. Argus lowered their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th.

Prologis Trading Up 1.3 %

NYSE:PLD opened at $105.85 on Friday. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $122.66 and its 200 day moving average is $121.66. The stock has a market capitalization of $98.00 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.63%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PLD. Signaturefd LLC boosted its stake in shares of Prologis by 7.7% during the 1st quarter. Signaturefd LLC now owns 13,668 shares of the real estate investment trust’s stock valued at $1,780,000 after purchasing an additional 979 shares in the last quarter. Catalina Capital Group LLC purchased a new stake in Prologis in the first quarter worth about $227,000. Avidian Wealth Solutions LLC boosted its position in Prologis by 3.1% during the 1st quarter. Avidian Wealth Solutions LLC now owns 7,155 shares of the real estate investment trust’s stock valued at $932,000 after acquiring an additional 217 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Prologis during the 1st quarter worth approximately $11,131,000. Finally, Easterly Investment Partners LLC bought a new position in shares of Prologis in the 1st quarter worth approximately $13,447,000. 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 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.