Prologis (NYSE:PLD) PT Lowered to $123.00 at Barclays

Prologis (NYSE:PLD) had its price objective cut by Barclays from $135.00 to $123.00 in a research note released on Monday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other research firms have also commented on PLD. The Goldman Sachs Group decreased their price objective on shares of Prologis from $163.00 to $140.00 and set a buy rating on the stock in a research report on Monday, April 22nd. TheStreet raised shares of Prologis from a c+ rating to a b- rating in a research note on Friday, January 26th. BMO Capital Markets lowered Prologis from an outperform rating to a market perform rating and reduced their target price for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. Robert W. Baird boosted their price target on Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a report on Tuesday, January 23rd. Finally, Mizuho reaffirmed a neutral rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of Moderate Buy and a consensus target price of $132.35.

Prologis Stock Performance

Shares of PLD stock opened at $101.84 on Monday. The stock has a fifty day moving average price of $123.24 and a 200 day moving average price of $121.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $94.29 billion, a PE ratio of 29.78, a P/E/G ratio of 2.18 and a beta of 1.00. Prologis has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Institutional Investors Weigh In On Prologis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new stake in shares of Prologis during the 1st quarter worth about $26,000. True Wealth Design LLC acquired a new stake in shares of Prologis in the fourth quarter worth $27,000. Thompson Investment Management Inc. purchased a new position in shares of Prologis in the 4th quarter valued at $28,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 232 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 168 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About Prologis

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.