Barclays Cuts Prologis (NYSE:PLD) Price Target to $118.00

by · The Markets Daily

Prologis (NYSE:PLD – Free Report) had its target price decreased by Barclays from $119.00 to $118.00 in a report released on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently issued reports on PLD. Mizuho set a $118.00 price objective on shares of Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Citigroup cut their price objective on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. UBS Group lifted their target price on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Finally, Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an “overweight” rating in a research report on Sunday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.58.

View Our Latest Report on Prologis

Prologis Price Performance

Shares of PLD opened at $113.86 on Monday. The business’s fifty day moving average is $109.63 and its 200 day moving average is $107.86. Prologis has a 12-month low of $85.35 and a 12-month high of $129.51. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The stock has a market cap of $105.69 billion, a P/E ratio of 30.86, a P/E/G ratio of 2.86 and a beta of 1.26.

Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $1.34 EPS. Prologis’s quarterly revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Sell-side analysts anticipate that Prologis will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. Prologis’s dividend payout ratio is presently 109.49%.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the sale, the director directly owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans boosted its stake in shares of Prologis by 0.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 203,607 shares of the real estate investment trust’s stock valued at $21,405,000 after purchasing an additional 1,859 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH bought a new stake in Prologis in the second quarter worth $4,280,000. Stance Capital LLC bought a new stake in Prologis in the second quarter worth $1,261,000. Pathway Financial Advisers LLC boosted its position in Prologis by 9.5% during the second quarter. Pathway Financial Advisers LLC now owns 14,552 shares of the real estate investment trust’s stock valued at $1,530,000 after buying an additional 1,264 shares during the period. Finally, North Dallas Bank & Trust Co. bought a new position in shares of Prologis during the second quarter valued at about $328,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

About Prologis

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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.

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