Prologis (NYSE:PLD) PT Lowered to $130.00 at Scotiabank

Prologis (NYSE:PLDFree Report) had its price target lowered by Scotiabank from $149.00 to $130.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a sector outperform rating on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on PLD. UBS Group decreased their target price on Prologis from $151.00 to $138.00 and set a buy rating on the stock in a report on Thursday, April 18th. Evercore ISI dropped their target price on shares of Prologis from $136.00 to $123.00 and set an in-line rating for the company in a research report on Thursday, April 18th. JPMorgan Chase & Co. reduced their price target on shares of Prologis from $143.00 to $128.00 and set an overweight rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada dropped their price objective on shares of Prologis from $145.00 to $124.00 and set an outperform rating for the company in a report on Monday, May 6th. Finally, TheStreet raised Prologis from a c+ rating to a b- rating in a report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has an average rating of Moderate Buy and an average price target of $130.35.

View Our Latest Stock Report on PLD

Prologis Price Performance

Shares of NYSE:PLD opened at $111.50 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $103.23 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 2.31 and a beta of 1.05. The firm’s 50 day moving average price is $117.08 and its 200-day moving average price is $122.25. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.44%. Prologis’s dividend payout ratio is presently 112.28%.

Institutional Trading of Prologis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLD. Wahed Invest LLC grew its stake in shares of Prologis by 17.3% during the first quarter. Wahed Invest LLC now owns 18,307 shares of the real estate investment trust’s stock valued at $2,384,000 after buying an additional 2,701 shares during the last quarter. New Covenant Trust Company N.A. purchased a new position in Prologis during the 1st quarter valued at $232,000. Plato Investment Management Ltd grew its position in Prologis by 946.0% in the 1st quarter. Plato Investment Management Ltd now owns 29,121 shares of the real estate investment trust’s stock valued at $3,792,000 after acquiring an additional 26,337 shares during the last quarter. Zimmer Partners LP purchased a new stake in Prologis in the first quarter worth $11,720,000. Finally, Beacon Capital Management LLC lifted its position in shares of Prologis by 379.1% during the first quarter. Beacon Capital Management LLC now owns 872 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 690 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Company Profile

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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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Analyst Recommendations for Prologis (NYSE:PLD)

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