Prologis, Inc. (NYSE:PLD) Receives $132.71 Consensus Target Price from Brokerages

Shares of Prologis, Inc. (NYSE:PLD - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seventeen brokerages that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $132.71.

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research note on Wednesday, August 28th. Evercore ISI lifted their price target on Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Barclays reduced their target price on Prologis from $142.00 to $131.00 and set an "overweight" rating for the company in a report on Thursday, October 10th. Finally, Scotiabank increased their price target on shares of Prologis from $135.00 to $142.00 and gave the stock a "sector outperform" rating in a report on Monday, August 26th.

Prologis Stock Performance

NYSE PLD traded down $0.20 on Friday, hitting $122.50. 3,690,933 shares of the stock traded hands, compared to its average volume of 3,642,941. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The business's fifty day moving average is $125.43 and its two-hundred day moving average is $117.72. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52. The firm has a market capitalization of $113.42 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company's revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.30 EPS. As a group, equities analysts anticipate that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Monday, September 16th. Prologis's payout ratio is currently 112.28%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. NBC Securities Inc. grew its position in Prologis by 20.4% in the 1st quarter. NBC Securities Inc. now owns 1,567 shares of the real estate investment trust's stock worth $214,000 after purchasing an additional 265 shares during the period. Wedmont Private Capital lifted its position in shares of Prologis by 9.6% in the first quarter. Wedmont Private Capital now owns 5,432 shares of the real estate investment trust's stock valued at $686,000 after acquiring an additional 476 shares in the last quarter. Optimum Investment Advisors purchased a new position in Prologis in the 1st quarter worth approximately $26,000. &PARTNERS bought a new stake in shares of Prologis during the first quarter valued at approximately $311,000. Finally, International Assets Investment Management LLC boosted its position in shares of Prologis by 8.8% during the first quarter. International Assets Investment Management LLC now owns 1,846 shares of the real estate investment trust's stock worth $236,000 after acquiring an additional 149 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other 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.