Prologis (NYSE:PLD) Price Target Lowered to $136.00 at Scotiabank

Prologis (NYSE:PLD) had its price objective trimmed by Scotiabank from $142.00 to $136.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a sector outperform rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on PLD. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Argus increased their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Performance

Shares of NYSE:PLD opened at $117.54 on Friday. The business’s fifty day moving average price is $125.17 and its two-hundred day moving average price is $117.56. The stock has a market capitalization of $108.82 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 earnings per share. As a group, analysts predict that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. Prologis’s payout ratio is 112.28%.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated 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 directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Prologis

A number of hedge funds have recently added to or reduced their stakes in PLD. American Capital Advisory LLC bought a new stake in Prologis during the second quarter valued at about $26,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis during the 2nd quarter valued at approximately $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis during the 2nd quarter valued at approximately $29,000. Sunbelt Securities Inc. boosted its position in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis during the 2nd quarter valued at approximately $31,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.