Prologis (NYSE:PLD) Price Target Cut to $128.00 by Analysts at JPMorgan Chase & Co.

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

A number of other equities analysts also recently weighed in on the company. Argus cut their target price on Prologis from $139.00 to $120.00 and set a buy rating on the stock in a research note on Monday. The Goldman Sachs Group decreased their price target on shares of Prologis from $163.00 to $140.00 and set a buy rating on the stock in a report on Monday. Robert W. Baird upped their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a research report on Tuesday, January 23rd. Evercore ISI cut 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. Finally, UBS Group cut their target price on shares of Prologis from $151.00 to $138.00 and set a buy rating for the company in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of Moderate Buy and an average target price of $134.24.

Prologis Trading Up 0.2 %

Shares of PLD stock opened at $103.35 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a market cap of $95.60 billion, a PE ratio of 30.22, a P/E/G ratio of 2.14 and a beta of 1.00. The stock’s fifty day moving average price is $125.65 and its two-hundred day moving average price is $121.90.

Prologis Increases Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.72%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Institutional Trading of Prologis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Columbia Trust Co 01012016 increased its holdings in Prologis by 16.0% in the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after acquiring an additional 723 shares during the last quarter. Cyndeo Wealth Partners LLC increased its holdings in shares of Prologis by 39.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after buying an additional 11,882 shares during the last quarter. DNB Asset Management AS increased its holdings in shares of Prologis by 17.1% in the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after buying an additional 42,073 shares during the last quarter. Grassi Investment Management increased its holdings in shares of Prologis by 31.8% in the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after buying an additional 60,900 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. increased its holdings in shares of Prologis by 255.0% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after buying an additional 11,582 shares during the last quarter. 93.50% of the stock is currently 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.