Royal Bank of Canada Forecasts Strong Price Appreciation for Prologis (NYSE:PLD) Stock

Prologis (NYSE:PLD) had its price objective raised by Royal Bank of Canada from $125.00 to $128.00 in a report published on Monday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on the company. Wolfe Research lowered their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $124.00 to $123.00 in a report on Monday, January 6th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $128.72.

Prologis Price Performance

Shares of NYSE PLD opened at $119.35 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The company has a market cap of $110.53 billion, a PE ratio of 29.84, a P/E/G ratio of 3.19 and a beta of 1.09. The business has a 50-day simple moving average of $110.73 and a two-hundred day simple moving average of $118.41. Prologis has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.22%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLD. Sunbelt Securities Inc. increased its position in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares in the last quarter. Dunhill Financial LLC increased its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of Prologis in the third quarter valued at approximately $48,000. Coastline Trust Co purchased a new stake in shares of Prologis in the third quarter valued at approximately $52,000. Finally, Fortitude Family Office LLC increased its position in shares of Prologis by 120.6% in the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 240 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other 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 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.