Barclays Raises Prologis (NYSE:PLD) Price Target to $132.00

Prologis (NYSE:PLD - Free Report) had its price objective raised by Barclays from $131.00 to $132.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the real estate investment trust's stock.

Other analysts have also recently issued research reports about the stock. Evercore ISI lifted their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a report on Wednesday, August 28th. Truist Financial increased their target price on Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $131.18.

Prologis Stock Performance

PLD stock traded up $1.23 during mid-day trading on Monday, hitting $114.65. 2,411,397 shares of the company were exchanged, compared to its average volume of 3,649,174. The stock has a market capitalization of $106.19 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis has a 1-year low of $101.11 and a 1-year high of $137.52. The business has a 50 day simple moving average of $121.34 and a 200-day simple moving average of $118.16.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The business's quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Prologis will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. Prologis's dividend payout ratio (DPR) is presently 116.01%.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Institutional Trading of Prologis

A number of institutional investors have recently bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Prologis by 534.7% in the third 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 worth $1,280,928,000 after purchasing an additional 8,545,336 shares in the last quarter. Swedbank AB acquired a new stake in shares of Prologis during the 1st quarter worth approximately $596,614,000. Janus Henderson Group PLC lifted its position in shares of Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust's stock valued at $456,320,000 after acquiring an additional 2,138,693 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Prologis during the second quarter worth $203,223,000. Finally, AMF Tjanstepension AB grew its holdings in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock worth $236,879,000 after purchasing an additional 1,365,811 shares during the period. 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 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.