Prologis (NYSE:PLD) Price Target Lowered to $128.00 at Wolfe Research

Prologis (NYSE:PLD) had its price objective decreased by Wolfe Research from $135.00 to $128.00 in a report issued on Friday. Wolfe Research currently has an overweight rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on PLD. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $124.00 to $123.00 in a research report on Monday, January 6th. Raymond James reiterated an “outperform” rating and set a $125.00 price target (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Barclays raised their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Stock Performance

Shares of NYSE:PLD opened at $109.51 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis has a 12-month low of $100.82 and a 12-month high of $135.76. The company’s 50 day moving average price is $110.47 and its two-hundred day moving average price is $118.31. The firm has a market cap of $101.43 billion, a PE ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 EPS. Equities research analysts predict that Prologis will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.51%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Hedge Funds Weigh In On Prologis

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ASB Consultores LLC raised its holdings in Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 86 shares during the last quarter. CX Institutional increased its position in shares of Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 88 shares during the period. DT Investment Partners LLC raised its stake in Prologis by 9.8% during the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 93 shares during the last quarter. Carmel Capital Partners LLC lifted its holdings in Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after buying an additional 94 shares during the period. Finally, Yoder Wealth Management Inc. boosted its position in Prologis by 4.0% during the third quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $316,000 after acquiring an additional 97 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.