Prologis (NYSE:PLD) Price Target Lowered to $134.00 at Scotiabank

Prologis (NYSE:PLD) had its price target cut by Scotiabank from $136.00 to $134.00 in a research note released on Wednesday,Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Evercore ISI boosted their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Bank of America reissued a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Barclays boosted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company upped their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.13.

Prologis Trading Down 1.2 %

Shares of PLD opened at $115.05 on Wednesday. The stock has a fifty day moving average of $118.07 and a two-hundred day moving average of $118.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $106.56 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 3.39 and a beta of 1.07. Prologis has a fifty-two week low of $101.11 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. As a group, analysts forecast that Prologis will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.34%. Prologis’s dividend payout ratio (DPR) is 116.01%.

Institutional Investors Weigh In On Prologis

Institutional investors and hedge funds have recently bought and sold shares of the business. Swedbank AB raised its stake in Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after acquiring an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after acquiring an additional 43,235 shares during the period. Sunflower Bank N.A. acquired a new stake in Prologis during the third quarter worth about $249,000. Abundance Wealth Counselors acquired a new stake in Prologis during the second quarter worth about $973,000. Finally, Coronation Fund Managers Ltd. acquired a new stake in Prologis during the second quarter worth about $878,000. Institutional investors and hedge funds 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 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.