Prologis, Inc. (NYSE:PLD) Receives $121.83 Consensus Target Price from Brokerages

Prologis, Inc. (NYSE:PLD) has been given an average rating of “Moderate Buy” by the nineteen brokerages that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $121.8333.

Several research analysts have commented on PLD shares. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Mizuho set a $118.00 target price on Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Citigroup lowered their target price on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. UBS Group boosted their target price on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th.

Insider Activity at Prologis

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction that occurred 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 in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Prologis

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Prologis by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 121,741,332 shares of the real estate investment trust’s stock worth $12,797,449,000 after buying an additional 401,922 shares in the last quarter. State Street Corp lifted its holdings in shares of Prologis by 1.9% in the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock worth $6,164,325,000 after purchasing an additional 1,088,544 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Prologis by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock worth $2,345,922,000 after purchasing an additional 310,333 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Prologis by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock worth $1,735,205,000 after purchasing an additional 253,338 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Prologis in the 1st quarter worth $1,456,768,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Up 3.7%

PLD opened at $115.09 on Tuesday. Prologis has a twelve month low of $85.35 and a twelve month high of $132.39. The company has a 50-day simple moving average of $109.03 and a 200 day simple moving average of $108.10. 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 capitalization of $106.83 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 2.78 and a beta of 1.26.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Analysts predict that Prologis will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

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

About Prologis

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.