Prologis (NYSE:PLD) PT Lowered to $128.00 at JPMorgan Chase & Co.

Prologis (NYSE:PLD) had its target price decreased by JPMorgan Chase & Co. from $143.00 to $128.00 in a research report sent to investors on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the company. BMO Capital Markets cut Prologis from an outperform rating to a market perform rating and reduced their target price for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. Evercore ISI reduced their target price on Prologis from $136.00 to $123.00 and set an in-line rating for the company in a research report on Thursday, April 18th. Royal Bank of Canada raised their target price on Prologis from $128.00 to $145.00 and gave the stock an outperform rating in a research report on Friday, February 16th. UBS Group reduced their target price on Prologis from $151.00 to $138.00 and set a buy rating for the company in a research report on Thursday, April 18th. Finally, Robert W. Baird lifted their price objective on Prologis from $133.00 to $137.00 and gave the company a neutral rating in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, four have given 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 an average rating of Moderate Buy and an average price target of $134.24.

Prologis Stock Up 0.7 %

Shares of PLD stock opened at $104.06 on Thursday. The stock has a market cap of $96.26 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00. Prologis has a one year low of $96.64 and a one year high of $137.52. The stock has a fifty day moving average price of $125.06 and a 200 day moving average price of $121.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.69%. 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 payout ratio is currently 112.28%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC raised its holdings in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Prologis by 6.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after purchasing an additional 1,034,211 shares during the period. FMR LLC increased its position in Prologis by 1.2% in the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after purchasing an additional 197,693 shares during the period. Northern Trust Corp increased its position in Prologis by 0.7% in the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after purchasing an additional 92,036 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after purchasing an additional 365,904 shares during the period. 93.50% of the stock is owned by institutional investors.

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.