Prologis (NYSE:PLD) Price Target Raised to $118.00

Prologis (NYSE:PLD) had its target price lifted by Evercore ISI from $116.00 to $118.00 in a report released on Monday morning,MarketScreener reports.

Several other analysts have also recently commented on the stock. Barclays reduced their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Prologis in a research note on Monday. Truist Financial reissued a “buy” rating and issued a $131.00 target price (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. Mizuho raised their price objective on Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Finally, Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and raised their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.00.

Prologis Price Performance

PLD traded up $1.17 during trading on Monday, hitting $128.94. The company’s stock had a trading volume of 1,049,956 shares, compared to its average volume of 3,268,784. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis has a twelve month low of $85.35 and a twelve month high of $131.70. The firm has a market capitalization of $119.77 billion, a price-to-earnings ratio of 37.59, a P/E/G ratio of 3.92 and a beta of 1.40. The business’s fifty day simple moving average is $126.36 and its 200 day simple moving average is $115.79.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. The business had revenue of $2.21 billion during the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. On average, equities research analysts forecast that Prologis will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, December 16th. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,621 shares of company stock valued at $198,655 over the last ninety days. 0.57% of the stock is owned by insiders.

Hedge Funds Weigh In On Prologis

A number of institutional investors have recently modified their holdings of PLD. Mirabella Financial Services LLP raised its stake in shares of Prologis by 154.3% in the 3rd quarter. Mirabella Financial Services LLP now owns 17,738 shares of the real estate investment trust’s stock valued at $2,027,000 after purchasing an additional 10,762 shares during the period. Hudson Bay Capital Management LP raised its holdings in shares of Prologis by 128.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 3,882 shares of the real estate investment trust’s stock worth $445,000 after buying an additional 17,431 shares in the last quarter. Allworth Financial LP grew its position in Prologis by 2.2% during the 3rd quarter. Allworth Financial LP now owns 234,768 shares of the real estate investment trust’s stock worth $26,886,000 after acquiring an additional 5,071 shares during the last quarter. IFP Advisors Inc lifted its holdings in Prologis by 8.7% during the 3rd quarter. IFP Advisors Inc now owns 4,816 shares of the real estate investment trust’s stock worth $552,000 after buying an additional 384 shares during the period. Finally, Swiss Life Asset Management Ltd lifted its stake in shares of Prologis by 19.6% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 172,836 shares of the real estate investment trust’s stock valued at $19,793,000 after purchasing an additional 28,349 shares during the period. 93.50% of the stock is owned by institutional investors.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.