BTIG Research Cuts Prologis (NYSE:PLD) Price Target to $134.00

Prologis (NYSE:PLD) had its price target decreased by BTIG Research from $154.00 to $134.00 in a report released on Friday. BTIG Research currently has a buy rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the stock. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Raymond James restated an “outperform” rating and issued a $125.00 price target (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $124.00 to $123.00 in a research report on Monday, January 6th. Scotiabank reduced their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Price Performance

Shares of PLD stock opened at $109.51 on Friday. The firm has a market cap of $101.43 billion, a P/E ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis has a 1-year low of $100.82 and a 1-year high of $135.76. The firm has a fifty day moving average of $110.34 and a two-hundred day moving average of $118.33.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.51%. Prologis’s dividend payout ratio (DPR) is 116.01%.

Institutional Trading of Prologis

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ASB Consultores LLC raised its position in shares of Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 86 shares in the last quarter. CX Institutional raised its position in shares of Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 88 shares in the last quarter. DT Investment Partners LLC grew its stake in shares of Prologis by 9.8% in the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 93 shares during the last quarter. Carmel Capital Partners LLC grew its stake in shares of Prologis by 2.6% in the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after purchasing an additional 94 shares during the last quarter. Finally, Yoder Wealth Management Inc. grew its stake in shares of Prologis by 4.0% in the 3rd quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock worth $316,000 after purchasing an additional 97 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

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.