Prologis (NYSE:PLD – Free Report) had its target price reduced by Barclays from $142.00 to $131.00 in a research report report published on Thursday, Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.
Several other equities analysts have also recently commented on PLD. Scotiabank raised their price target on shares of Prologis from $135.00 to $142.00 and gave the company a sector outperform rating in a research report on Monday, August 26th. BMO Capital Markets restated a market perform rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Royal Bank of Canada cut Prologis from an outperform rating to a sector perform rating and lifted their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Morgan Stanley upped their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an overweight rating in a research note on Wednesday, August 14th. Finally, Argus lifted their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $132.71.
View Our Latest Report on Prologis
Prologis Trading Up 1.7 %
Prologis (NYSE:PLD – Get Free Report) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s revenue was down 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 earnings per share. On average, equities analysts expect that Prologis will post 5.42 earnings per share for the current year.
Prologis Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.19%. Prologis’s dividend payout ratio (DPR) is presently 126.73%.
Insider Activity at Prologis
In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.
Hedge Funds Weigh In On Prologis
A number of hedge funds and other institutional investors have recently made changes to their positions in PLD. Nordea Investment Management AB grew its stake in shares of Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Swedbank AB grew its position in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 43,235 shares during the period. US Bancorp DE raised its position in Prologis by 6.5% during the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after buying an additional 41,469 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its stake in shares of Prologis by 5.7% in the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after acquiring an additional 367,565 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.
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.
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