Prologis (NYSE:PLD) Price Target Cut to $119.00 by Analysts at Wells Fargo & Company

Prologis (NYSE:PLD) had its price objective trimmed by Wells Fargo & Company from $146.00 to $119.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Several other research firms also recently commented on PLD. BMO Capital Markets dropped their price objective on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Barclays lowered their price target on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Morgan Stanley lowered their price target on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, CJS Securities lowered their price target on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.42.

Prologis Price Performance

NYSE PLD opened at $110.56 on Monday. The company has a market cap of $102.59 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Prologis has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $104.79 and its two-hundred day simple moving average is $111.06.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Research analysts predict that Prologis will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio is currently 101.00%.

Institutional Investors Weigh In On Prologis

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Prologis by 0.7% during the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock valued at $13,564,533,000 after acquiring an additional 869,310 shares during the last quarter. Cohen & Steers Inc. grew its position in Prologis by 3.2% during the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock valued at $2,994,557,000 after acquiring an additional 882,529 shares during the last quarter. Geode Capital Management LLC grew its position in Prologis by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock valued at $2,252,853,000 after acquiring an additional 610,251 shares during the last quarter. FMR LLC grew its position in Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after acquiring an additional 1,875,978 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Prologis by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after acquiring an additional 334,907 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Company Profile

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.