Prologis (NYSE:PLD) Price Target Cut to $120.00 by Analysts at Argus

Prologis (NYSE:PLD) had its price target cut by Argus from $139.00 to $120.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

PLD has been the topic of a number of other reports. Barclays cut their price target on Prologis from $141.00 to $135.00 and set an overweight rating on the stock in a report on Wednesday, April 17th. Raymond James lifted their target price on Prologis from $130.00 to $145.00 and gave the company a strong-buy rating in a research report on Wednesday, January 24th. UBS Group lowered their target price on Prologis from $151.00 to $138.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Royal Bank of Canada lifted their target price on Prologis from $128.00 to $145.00 and gave the company an outperform rating in a research report on Friday, February 16th. Finally, Robert W. Baird lifted their target price on Prologis from $133.00 to $137.00 and gave the company a neutral rating in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $135.41.

Prologis Stock Performance

Shares of Prologis stock opened at $103.18 on Monday. The firm has a market cap of $95.45 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The stock’s 50-day moving average is $126.24 and its 200-day moving average is $122.03. Prologis has a one year low of $96.64 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 112.28%.

Institutional Investors Weigh In On Prologis

Institutional investors have recently made changes to their positions in the company. Columbia Trust Co 01012016 boosted its holdings in shares of Prologis by 16.0% during the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after acquiring an additional 723 shares during the period. Cyndeo Wealth Partners LLC boosted its stake in shares of Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after buying an additional 11,882 shares during the period. DNB Asset Management AS boosted its stake in shares of Prologis by 17.1% in the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after buying an additional 42,073 shares during the period. Grassi Investment Management boosted its stake in shares of Prologis by 31.8% in the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after buying an additional 60,900 shares during the period. Finally, Desjardins Global Asset Management Inc. boosted its stake in shares of Prologis by 255.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after buying an additional 11,582 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.