Prologis (NYSE:PLD) Given New $140.00 Price Target at The Goldman Sachs Group

Prologis (NYSE:PLD) had its target price lowered by The Goldman Sachs Group from $163.00 to $140.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

A number of other research analysts also recently commented on PLD. BMO Capital Markets downgraded Prologis from an outperform rating to a market perform rating and reduced their price target for the company from $145.00 to $112.00 in a report on Monday. UBS Group reduced their price target on Prologis from $151.00 to $138.00 and set a buy rating for the company in a report on Thursday, April 18th. Robert W. Baird increased their price target on Prologis from $133.00 to $137.00 and gave the company a neutral rating in a report on Tuesday, January 23rd. Raymond James upped their price objective on Prologis from $130.00 to $145.00 and gave the company a strong-buy rating in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada upped their price objective on Prologis from $128.00 to $145.00 and gave the company an outperform rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis has a consensus rating of Moderate Buy and a consensus price target of $134.24.

Prologis Trading Up 0.2 %

Shares of PLD opened at $103.35 on Monday. The company has a market capitalization of $95.60 billion, a P/E ratio of 30.22, a P/E/G ratio of 2.17 and a beta of 1.00. Prologis has a one year low of $96.64 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. The stock has a 50-day moving average price of $125.65 and a 200 day moving average price of $121.90.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.72%. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio is presently 112.28%.

Institutional Trading of Prologis

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Prologis during the 1st quarter worth approximately $526,000. Carr Financial Group Corp increased its position in Prologis by 38.9% in the 1st quarter. Carr Financial Group Corp now owns 2,650 shares of the real estate investment trust’s stock valued at $345,000 after acquiring an additional 742 shares during the period. Sigma Investment Counselors Inc. increased its position in Prologis by 0.7% in the 1st quarter. Sigma Investment Counselors Inc. now owns 31,965 shares of the real estate investment trust’s stock valued at $4,162,000 after acquiring an additional 234 shares during the period. Checchi Capital Advisers LLC increased its position in Prologis by 1.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 16,603 shares of the real estate investment trust’s stock valued at $2,162,000 after acquiring an additional 283 shares during the period. Finally, Oakwell Private Wealth Management LLC increased its position in Prologis by 4.5% in the 1st quarter. Oakwell Private Wealth Management LLC now owns 14,931 shares of the real estate investment trust’s stock valued at $1,944,000 after acquiring an additional 648 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 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.