Prologis (NYSE:PLD) Price Target Raised to $142.00 at Truist Financial

Prologis (NYSE:PLD) had its price target increased by Truist Financial from $131.00 to $142.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other brokerages also recently commented on PLD. Barclays restated an “overweight” rating and issued a $139.00 price objective on shares of Prologis in a research report on Tuesday, January 13th. Evercore ISI increased their target price on Prologis from $116.00 to $118.00 in a research note on Monday, December 22nd. Baird R W downgraded Prologis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Prologis in a report on Monday, December 29th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $130.00 target price (up previously from $128.00) on shares of Prologis in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

Prologis Price Performance

Shares of NYSE PLD opened at $130.74 on Tuesday. The stock has a fifty day moving average price of $128.12 and a 200 day moving average price of $118.90. Prologis has a 1-year low of $85.35 and a 1-year high of $134.94. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $121.44 billion, a PE ratio of 38.12, a P/E/G ratio of 3.90 and a beta of 1.40.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. The company had revenue of $2.21 billion for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. Sell-side analysts forecast that Prologis will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were given a $1.01 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. Prologis’s dividend payout ratio is currently 117.78%.

Insider Buying and Selling

In related news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the transaction, the director directly owned 8,208 shares in the company, valued at $1,047,340.80. The trade was a 7.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James B. Connor sold 80,000 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $126.58, for a total value of $10,126,400.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 81,121 shares of company stock valued at $10,267,210. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its holdings in shares of Prologis by 16.7% in the 3rd quarter. D.A. Davidson & CO. now owns 587,157 shares of the real estate investment trust’s stock valued at $67,241,000 after purchasing an additional 83,966 shares during the last quarter. Generali Asset Management SPA SGR increased its holdings in shares of Prologis by 33.4% during the 3rd quarter. Generali Asset Management SPA SGR now owns 100,314 shares of the real estate investment trust’s stock worth $11,488,000 after buying an additional 25,133 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Prologis in the 2nd quarter worth $875,000. Verity & Verity LLC boosted its holdings in Prologis by 42.8% in the third quarter. Verity & Verity LLC now owns 165,438 shares of the real estate investment trust’s stock valued at $18,946,000 after acquiring an additional 49,604 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in Prologis by 36.7% in the third quarter. DAVENPORT & Co LLC now owns 50,912 shares of the real estate investment trust’s stock valued at $5,830,000 after acquiring an additional 13,666 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.