Prologis (NYSE:PLD) PT Raised to $135.00 at Argus

Prologis (NYSE:PLD) had its price target hoisted by Argus from $120.00 to $135.00 in a research report released on Tuesday, Benzinga reports. Argus currently has a buy rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. Mizuho reduced their target price on Prologis from $130.00 to $120.00 and set a neutral rating for the company in a research note on Friday, May 31st. Barclays cut their price target on Prologis from $135.00 to $123.00 and set an overweight rating for the company in a research note on Monday, April 29th. Evercore ISI lifted their price target on Prologis from $119.00 to $123.00 and gave the company an in-line rating in a research note on Thursday, July 18th. Scotiabank cut their price target on Prologis from $149.00 to $130.00 and set a sector outperform rating for the company in a research note on Thursday, May 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Prologis from $143.00 to $128.00 and set an overweight rating on the stock in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $128.60.

Prologis Stock Down 0.5 %

Shares of Prologis stock traded down $0.67 during trading on Tuesday, reaching $125.01. The company’s stock had a trading volume of 1,731,813 shares, compared to its average volume of 3,745,536. The company has a quick ratio of 0.29, a current ratio of 0.10 and a debt-to-equity ratio of 0.52. The company has a market cap of $115.74 billion, a price-to-earnings ratio of 36.77, a P/E/G ratio of 3.00 and a beta of 1.06. Prologis has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a 50-day simple moving average of $112.69 and a two-hundred day simple moving average of $120.07.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 EPS. As a group, equities analysts forecast that Prologis will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.07%. Prologis’s dividend payout ratio is currently 112.28%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Optimum Investment Advisors purchased a new position in shares of Prologis during the 1st quarter worth approximately $26,000. True Wealth Design LLC acquired a new stake in Prologis during the fourth quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new stake in Prologis during the second quarter worth approximately $29,000. JFS Wealth Advisors LLC boosted its position in Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 168 shares during the last quarter. Finally, Clear Investment Research LLC boosted its position in Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 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.