Prologis (NYSE:PLD) Given New $156.00 Price Target at The Goldman Sachs Group

Prologis (NYSE:PLD) had its price target increased by The Goldman Sachs Group from $140.00 to $156.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

PLD has been the subject of a number of other reports. Robert W. Baird decreased their price objective on shares of Prologis from $137.00 to $117.00 and set a neutral rating for the company in a report on Wednesday, May 1st. UBS Group cut their target price on shares of Prologis from $151.00 to $138.00 and set a buy rating for the company in a research report on Thursday, April 18th. Royal Bank of Canada cut their target price on shares of Prologis from $145.00 to $124.00 and set an outperform rating for the company in a research report on Monday, May 6th. Evercore ISI boosted their target price on shares of Prologis from $119.00 to $123.00 and gave the stock an in-line rating in a research report on Thursday, July 18th. Finally, Argus boosted their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a buy rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of Moderate Buy and a consensus price target of $129.67.

Prologis Trading Up 0.8 %

Prologis stock opened at $121.36 on Thursday. The company’s fifty day simple moving average is $113.15 and its 200-day simple moving average is $120.09. The company has a quick ratio of 0.29, a current ratio of 0.10 and a debt-to-equity ratio of 0.52. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52. The stock has a market cap of $112.36 billion, a P/E ratio of 35.21, a P/E/G ratio of 2.91 and a beta of 1.06.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the firm earned $1.83 earnings per share. The company’s revenue was down 18.1% on a year-over-year basis. As a group, sell-side analysts forecast that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.16%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLD. Raymond James Financial Services Advisors Inc. raised its position in Prologis by 4.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 223,532 shares of the real estate investment trust’s stock worth $29,797,000 after purchasing an additional 9,180 shares in the last quarter. IFG Advisory LLC bought a new stake in Prologis during the fourth quarter worth about $379,000. Procyon Advisors LLC bought a new stake in Prologis during the fourth quarter worth about $350,000. Altfest L J & Co. Inc. bought a new stake in Prologis during the fourth quarter worth about $490,000. Finally, WASHINGTON TRUST Co grew its stake in Prologis by 1,031.6% during the fourth quarter. WASHINGTON TRUST Co now owns 645 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 588 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.