Prologis, Inc. (NYSE:PLD) Receives $128.78 Consensus PT from Analysts

Shares of Prologis, Inc. (NYSE:PLD) have been given a consensus recommendation of “Moderate Buy” by the twenty brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eleven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $128.78.

A number of analysts have recently weighed in on PLD shares. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Scotiabank reduced their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Finally, UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prologis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the 4th quarter worth about $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new position in shares of Prologis during the fourth quarter valued at approximately $30,000. REAP Financial Group LLC lifted its position in shares of Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 84 shares in the last quarter. Finally, Dunhill Financial LLC boosted its stake in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of Prologis stock opened at $110.35 on Tuesday. The company has a 50-day simple moving average of $117.64 and a two-hundred day simple moving average of $116.80. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis has a one year low of $100.82 and a one year high of $132.57. The company has a market capitalization of $102.28 billion, a PE ratio of 27.59, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.66%. Prologis’s dividend payout ratio (DPR) is 101.00%.

About Prologis

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.