Robert W. Baird Lowers Prologis (NYSE:PLD) Price Target to $117.00

Prologis (NYSE:PLD) had its target price decreased by Robert W. Baird from $137.00 to $117.00 in a research report released on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the real estate investment trust’s stock.

PLD has been the subject of several other reports. Argus lowered their price objective on Prologis from $139.00 to $120.00 and set a buy rating for the company in a research report on Monday, April 22nd. UBS Group lowered 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. The Goldman Sachs Group reduced their price objective on shares of Prologis from $163.00 to $140.00 and set a buy rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada increased their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an outperform rating in a research note on Friday, February 16th. Finally, Raymond James boosted their price target on shares of Prologis from $130.00 to $145.00 and gave the company a strong-buy rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has a consensus rating of Moderate Buy and an average target price of $132.35.

Prologis Stock Performance

NYSE:PLD opened at $101.84 on Wednesday. The company’s 50-day moving average is $123.24 and its two-hundred day moving average is $121.78. Prologis has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $94.29 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.18 and a beta of 1.00.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.77%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Institutional Investors Weigh In On Prologis

Several large investors have recently bought and sold shares of the stock. Optimum Investment Advisors acquired a new position in shares of Prologis during the first quarter worth about $26,000. True Wealth Design LLC purchased a new position in Prologis in the fourth quarter worth approximately $27,000. Thompson Investment Management Inc. acquired a new position in Prologis during the 4th quarter worth approximately $28,000. FinTrust Capital Advisors LLC grew its holdings in Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its position in shares of Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares during the last quarter. 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 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.