Wolfe Research Cuts Prologis (NYSE:PLD) Price Target to $128.00

Prologis (NYSE:PLD) had its target price cut by Wolfe Research from $135.00 to $128.00 in a research report released on Friday morning. They currently have an overweight rating on the real estate investment trust’s stock.

Several other equities research analysts have also commented on the stock. Raymond James reaffirmed an “outperform” rating and issued a $125.00 price target (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Truist Financial lowered their price target on shares of Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a report on Friday. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Scotiabank decreased their price objective on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Price Performance

NYSE:PLD opened at $109.51 on Friday. Prologis has a one year low of $100.82 and a one year high of $135.76. 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 firm has a market cap of $101.43 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. The firm’s fifty day moving average is $110.34 and its two-hundred day moving average is $118.33.

Prologis Announces Dividend

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

Institutional Trading of Prologis

Hedge funds have recently bought and sold shares of the business. Apeiron RIA LLC purchased a new stake in shares of Prologis in the 4th quarter valued at approximately $216,000. Verde Capital Management grew its stake in shares of Prologis by 3.2% in the 4th quarter. Verde Capital Management now owns 16,325 shares of the real estate investment trust’s stock valued at $1,726,000 after buying an additional 510 shares during the period. Red Door Wealth Management LLC grew its stake in shares of Prologis by 6.4% in the 4th quarter. Red Door Wealth Management LLC now owns 37,830 shares of the real estate investment trust’s stock valued at $3,999,000 after buying an additional 2,261 shares during the period. Teamwork Financial Advisors LLC purchased a new stake in shares of Prologis in the 4th quarter valued at approximately $1,140,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of Prologis by 16.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 15,116 shares of the real estate investment trust’s stock valued at $1,598,000 after buying an additional 2,120 shares during the period. 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.