Prologis (NYSE:PLD) Price Target Lowered to $120.00 at Argus

Prologis (NYSE:PLD) had its target price reduced by Argus from $139.00 to $120.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other research analysts have also recently issued reports on PLD. UBS Group decreased their price objective on shares of Prologis from $151.00 to $138.00 and set a buy rating for the company in a report on Thursday, April 18th. Barclays lowered their price objective on shares of Prologis from $141.00 to $135.00 and set an overweight rating for the company in a research report on Wednesday, April 17th. BMO Capital Markets cut Prologis from an outperform rating to a market perform rating and decreased their target price for the company from $145.00 to $112.00 in a research note on Monday. Raymond James raised their price target on Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a research report on Wednesday, January 24th. Finally, Robert W. Baird boosted their price objective on Prologis from $133.00 to $137.00 and gave the company a neutral rating in a research report on Tuesday, January 23rd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $135.41.

Prologis Stock Up 0.6 %

NYSE:PLD opened at $104.06 on Monday. The stock’s fifty day simple moving average is $127.31 and its 200-day simple moving average is $122.19. The firm has a market capitalization of $96.26 billion, a P/E ratio of 30.43, a P/E/G ratio of 2.08 and a beta of 1.00. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52.

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 issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.69%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Institutional Trading of Prologis

A number of hedge funds have recently modified their holdings of PLD. Columbia Trust Co 01012016 raised its position in shares of Prologis by 16.0% in the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 723 shares in the last quarter. Cyndeo Wealth Partners LLC raised its stake in Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares in the last quarter. DNB Asset Management AS lifted its position in Prologis by 17.1% during the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares during the period. Grassi Investment Management grew its stake in Prologis by 31.8% during the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after buying an additional 60,900 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. grew its stake in Prologis by 255.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after buying an additional 11,582 shares in 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 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.