Barclays Cuts Prologis (NYSE:PLD) Price Target to $135.00

Prologis (NYSE:PLD) had its price target reduced by Barclays from $141.00 to $135.00 in a research note published on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the stock. Evercore ISI reissued an in-line rating and set a $136.00 price objective on shares of Prologis in a report on Monday, March 18th. Royal Bank of Canada lifted their price target on shares of Prologis from $128.00 to $145.00 and gave the stock an outperform rating in a report on Friday, February 16th. Raymond James lifted their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a report on Wednesday, January 24th. TheStreet raised shares of Prologis from a c+ rating to a b- rating in a report on Friday, January 26th. Finally, Robert W. Baird lifted their price target on shares of Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $141.27.

Prologis Stock Performance

Shares of PLD stock opened at $106.49 on Wednesday. The firm has a market cap of $98.51 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 2.31 and a beta of 1.00. The company’s 50 day moving average is $128.99 and its 200 day moving average is $122.19. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 earnings per share. On average, sell-side analysts anticipate that Prologis will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.61%. Prologis’s payout ratio is currently 116.72%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLD. Optimum Investment Advisors acquired a new position in shares of Prologis in the first quarter worth about $26,000. True Wealth Design LLC acquired a new position in shares of Prologis in the fourth quarter worth about $27,000. Thompson Investment Management Inc. acquired a new position in shares of Prologis in the fourth quarter worth about $28,000. FinTrust Capital Advisors LLC raised its position in shares of Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares during the period. Finally, JFS Wealth Advisors LLC raised its position in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 168 shares during the period. 93.50% of the stock is currently 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 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.