Scotiabank Lowers Prologis (NYSE:PLD) Price Target to $133.00

Prologis (NYSE:PLD) had its price target trimmed by Scotiabank from $134.00 to $133.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the stock. Raymond James restated an “outperform” rating and set a $125.00 price target (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Mizuho dropped their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $124.00 to $123.00 in a research report on Monday, January 6th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. reduced their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.72.

Prologis Trading Down 0.7 %

NYSE:PLD opened at $119.35 on Monday. Prologis has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The business has a 50 day simple moving average of $110.73 and a 200 day simple moving average of $118.41. The firm has a market capitalization of $110.53 billion, a P/E ratio of 29.84, a P/E/G ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLD. State Street Corp grew its holdings in shares of Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after acquiring an additional 767,609 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Prologis by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after purchasing an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares in the last quarter. Finally, Swedbank AB raised its holdings in Prologis by 1.8% during the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after buying an additional 80,575 shares during the period. Institutional investors and hedge funds 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.