Prologis (NYSE:PLD) Price Target Raised to $133.00

Prologis (NYSE:PLD) had its target price upped by Scotiabank from $127.00 to $133.00 in a research report sent to investors on Monday morning, MarketBeat Ratings reports. They currently have a sector perform rating on the real estate investment trust’s stock.

A number of other brokerages have also commented on PLD. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Evercore ISI increased their target price on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a report on Thursday, October 16th. Citigroup dropped their price target on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a research report on Monday, October 20th. Finally, Wells Fargo & Company increased their price objective on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.39.

Prologis Trading Down 1.1%

NYSE PLD opened at $124.87 on Monday. Prologis has a one year low of $85.35 and a one year high of $127.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. The firm has a market cap of $115.98 billion, a P/E ratio of 36.40, a P/E/G ratio of 3.13 and a beta of 1.29. The stock’s 50-day moving average is $118.73 and its 200-day moving average is $111.49.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.Prologis’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Sell-side analysts anticipate that Prologis will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.2%. Prologis’s dividend payout ratio is 117.78%.

Insider Buying and Selling

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,000 shares of company stock valued at $3,013,665. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Prologis

A number of large investors have recently added to or reduced their stakes in PLD. Jump Financial LLC bought a new position in Prologis during the 1st quarter worth approximately $2,120,000. Ally Financial Inc. increased its position in shares of Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock worth $3,130,000 after buying an additional 4,000 shares during the period. Inspire Investing LLC raised its stake in Prologis by 9.0% during the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock worth $10,129,000 after buying an additional 7,518 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Prologis during the first quarter worth $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc lifted its holdings in Prologis by 14.3% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock valued at $7,579,000 after buying an additional 8,470 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.