Prologis (NYSE:PLD) Price Target Raised to $124.00 at Robert W. Baird

Prologis (NYSE:PLD) had its target price upped by Robert W. Baird from $123.00 to $124.00 in a report released on Thursday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.

Several other brokerages have also issued reports on PLD. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Mizuho lowered their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada increased their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday. UBS Group lifted their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Performance

PLD stock opened at $120.66 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The firm has a market cap of $111.75 billion, a PE ratio of 30.17, a P/E/G ratio of 3.19 and a beta of 1.09. The business has a 50 day moving average of $110.83 and a 200-day moving average of $118.42. Prologis has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.18%. Prologis’s dividend payout ratio is currently 96.00%.

Institutional Investors Weigh In On Prologis

Several institutional investors have recently bought and sold shares of the stock. Secured Retirement Advisors LLC raised its stake in shares of Prologis by 24.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 11,857 shares of the real estate investment trust’s stock valued at $1,253,000 after acquiring an additional 2,343 shares during the last quarter. Principal Securities Inc. lifted its stake in Prologis by 3.8% in the fourth quarter. Principal Securities Inc. now owns 22,067 shares of the real estate investment trust’s stock worth $2,332,000 after acquiring an additional 808 shares during the period. Montag A & Associates Inc. boosted its holdings in Prologis by 109.0% in the fourth quarter. Montag A & Associates Inc. now owns 767 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 400 shares in the last quarter. Spinnaker Trust raised its holdings in Prologis by 4.1% in the 4th quarter. Spinnaker Trust now owns 49,643 shares of the real estate investment trust’s stock worth $5,247,000 after purchasing an additional 1,971 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in Prologis by 0.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,013,203 shares of the real estate investment trust’s stock worth $107,096,000 after purchasing an additional 3,669 shares in the last quarter. 93.50% of the stock is currently 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.