Prologis (NYSE:PLD) Given New $132.00 Price Target at Barclays

by · The Cerbat Gem

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

PLD has been the subject of several other research reports. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Argus increased their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley increased their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Truist Financial raised their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.18.

Read Our Latest Stock Analysis on PLD

Prologis Stock Up 1.1 %

NYSE PLD opened at $114.65 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a 50-day simple moving average of $121.03 and a 200 day simple moving average of $118.23. Prologis has a twelve month low of $101.11 and a twelve month high of $137.52. The stock has a market cap of $106.19 billion, a PE ratio of 34.64, a PEG ratio of 2.98 and a beta of 1.08.

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

Prologis Dividend Announcement

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

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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. American Capital Advisory LLC acquired a new stake in Prologis during the 2nd quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new stake in Prologis during the 2nd quarter worth $27,000. Central Valley Advisors LLC acquired a new stake in Prologis during the 2nd quarter worth $29,000. Sunbelt Securities Inc. grew its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Prologis

(Get Free Report)

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.

Featured Stories