Prologis (NYSE:PLD) Given New $133.00 Price Target at Scotiabank

Prologis (NYSE:PLD) had its price objective cut by Scotiabank from $134.00 to $133.00 in a research note published on Monday,Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

PLD has been the topic of several other reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Truist Financial cut their price objective on shares of Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Wolfe Research lowered their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Barclays lifted their price target 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Up 2.0 %

PLD opened at $121.29 on Monday. The stock has a market capitalization of $112.33 billion, a P/E ratio of 30.32, a P/E/G ratio of 3.19 and a beta of 1.09. Prologis has a 12 month low of $100.82 and a 12 month high of $135.76. The firm’s fifty day simple moving average is $110.49 and its 200 day simple moving average is $118.41. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.17%. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its stake in Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after buying an additional 767,609 shares during the last quarter. Geode Capital Management LLC grew its stake in Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after buying an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Prologis by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after buying an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Finally, Swedbank AB grew its stake in Prologis by 1.8% in the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock valued at $486,514,000 after buying an additional 80,575 shares during the last quarter. Institutional investors and hedge funds 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 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.