Prologis (NYSE:PLD) Given New $117.00 Price Target at Robert W. Baird

Prologis (NYSE:PLD) had its price objective lowered by Robert W. Baird from $137.00 to $117.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on PLD. Argus dropped their price objective on shares of Prologis from $139.00 to $120.00 and set a buy rating for the company in a report on Monday, April 22nd. Morgan Stanley upped their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Mizuho reissued a neutral rating and issued a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. Royal Bank of Canada upped their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an outperform rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Prologis from $143.00 to $128.00 and set an overweight rating for the company in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $132.35.

Prologis Price Performance

Shares of NYSE PLD opened at $105.89 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52. The firm has a 50-day simple moving average of $122.11 and a 200-day simple moving average of $121.63. The stock has a market capitalization of $98.04 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 2.17 and a beta of 1.05.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.63%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Columbia Trust Co 01012016 raised its holdings in Prologis by 16.0% in the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after acquiring an additional 723 shares in the last quarter. Cyndeo Wealth Partners LLC raised its holdings in 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 acquiring an additional 11,882 shares in the last quarter. DNB Asset Management AS raised its holdings in 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 acquiring an additional 42,073 shares in the last quarter. Grassi Investment Management raised its holdings in 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 acquiring an additional 60,900 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. raised its holdings in 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 acquiring an additional 11,582 shares in the last quarter. Hedge funds and other institutional investors 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 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.