The Goldman Sachs Group Raises Prologis (NYSE:PLD) Price Target to $156.00

Prologis (NYSE:PLD) had its price target raised by The Goldman Sachs Group from $140.00 to $156.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on PLD. BMO Capital Markets restated a market perform rating and issued a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. StockNews.com upgraded Prologis from a sell rating to a hold rating in a report on Thursday, July 18th. Scotiabank dropped their price objective on Prologis from $149.00 to $130.00 and set a sector outperform rating on the stock in a report on Thursday, May 16th. Royal Bank of Canada dropped their price objective on Prologis from $145.00 to $124.00 and set an outperform rating on the stock in a report on Monday, May 6th. Finally, Argus increased their price target on Prologis from $120.00 to $135.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prologis presently has an average rating of Moderate Buy and a consensus target price of $129.67.

Prologis Price Performance

Shares of PLD opened at $122.68 on Thursday. The company has a market capitalization of $113.58 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 2.90 and a beta of 1.06. 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 0.10 and a quick ratio of 0.29. The business’s 50-day moving average is $113.37 and its 200-day moving average is $119.83.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The company’s quarterly revenue was down 18.1% on a year-over-year basis. Equities research analysts expect that Prologis will post 5.43 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a $0.96 dividend. The ex-dividend date was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Institutional Trading of Prologis

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Optimum Investment Advisors acquired a new stake in Prologis in the first quarter worth about $26,000. True Wealth Design LLC acquired a new stake in Prologis in the fourth quarter worth about $27,000. Central Valley Advisors LLC acquired a new stake in Prologis in the second quarter worth about $29,000. JFS Wealth Advisors LLC increased its position in Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 168 shares during the period. Finally, Clear Investment Research LLC increased its position in Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 158 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.